Alan Lineman Acquires Development Site On Bedford Street In Los Angeles For $3.5M
SOLD
$3,500,000
California
See Similar DealsDevelopment Site
Sold 08/31/2023
SOLD
Alan Lineman Acquires Development Site On Bedford Street In Los Angeles For $3.5M
1442 South Bedford Street & 1446 Bedford Street
See Similar DealsDevelopment Site
Sold 08/31/2023
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 1442-1446 Bedford Street in Los Angeles has recently been sold for $3,500,000. The property, consisting of a vacant lot, was listed on the market for sale. The transaction took place on August 31, 2023, and the buyer of the property was Alan Lineman.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,500,000
- Address: 1442-1446 Bedford Street, Los Angeles
- Market: Los Angeles
The seller of the development site was Great White, represented by Mark Kansky. The broker involved in the deal was Paul Darrow from Walker & Dunlop, who represented both the buyer and the seller. The transaction marks a significant milestone in the real estate market, showcasing the demand for development opportunities in the Los Angeles area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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