Sola Impact Acquires Development Site On Martin Luther King Blvd In Los Angeles
SOLD
$1,450,000
California
See Similar DealsDevelopment Site12,047 SF
Sold 10/16/2020
SOLD
Sola Impact Acquires Development Site On Martin Luther King Blvd In Los Angeles
1451 W Martin Luther King Jr Blvd, Los Angeles, CA 90062, Estados Unidos
See Similar DealsDevelopment Site12,047 SF
Sold 10/16/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$120
Total Square Footage:12,047 SF
Transaction Type:Sale
A development site located at 1451 Martin Luther King Blvd in Los Angeles has been sold in a recent transaction. The property, with a buildable square footage (BSF) of 12,047, was acquired by Sola Impact for a total price of $1,450,000. This translates to a purchase price per buildable square foot (PPBSF) of $120.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $1,450,000
- Buyer: Sola Impact
- Seller: James Kwon
- Brokers: Elizabeth Clark - Compass, Sayeh Foroutan - Compass
- Address: 1451 Martin Luther King Blvd
- Market: Los Angeles
The deal was facilitated by Elizabeth Clark and Sayeh Foroutan, both representing Compass brokerage. The transaction is a testament to the continuous development and growth in the Los Angeles market.
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BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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