Continental Development Group Acquires Trousdale Development Site For $6M
SOLD
$6,000,000
California
See Similar DealsDevelopment Site3,300 SF
Sold 01/22/2020
SOLD
Continental Development Group Acquires Trousdale Development Site For $6M
1471 Carla Ridge, Beverly Hills, CA 90210, USA
See Similar DealsDevelopment Site3,300 SF
Sold 01/22/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$1,818
Total Square Footage:3,300 SF
Transaction Type:Sale
A development site in Trousdale has been sold for $6 million. The property, located at 1471 Carla Ridge, offers 3,300 square feet of space. With a price per square foot of $1,818.18, this site presents a valuable investment opportunity.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $6,000,000
- Address: 1471 Carla Ridge
- Market: Trousdale
- Square Footage: 3,300
- Price per Square Foot: $1,818.18
Torrey Ripinsky, representing Continental Development Group, LLC, has acquired the property from seller Omer Faruk. Ethan Peskowitz acted as the broker in this transaction. The deal closed on January 22, 2020, marking a successful venture in Trousdale's real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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