Updated Sep 9, 2024
Brennen Hakimian Acquires Development Site In Westwood From Temkin Family For $5.6M
1505 Veteran Avenue, Los Angeles, CA, USA
$5,600,000
$155/SF
Building Size
36,000 SF
Asset Type
Development Site
Closing
Feb 10, 2021
About this deal
AI
A development site located at 1505 - 1515 Veteran Ave. in Westwood has been sold for a total of $5,600,000. The transaction took place on February 11, 2021. The buyer of the property is Brennen Hakimian, while the seller is the Temkin Family. The broker representing the deal is Michael Monempour. The property is zoned as R3-1 and has a building square footage (BSF) of 36,000, resulting in a price per building square footage (PPBSF) of $155.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $5,600,000
- Address: 1505 - 1515 Veteran Ave.
- Market: Westwood
- Buyer: Brennen Hakimian
- Seller: Temkin Family
- Broker: Michael Monempour
- Zoning: R3-1
- BSF: 36,000
- PPBSF: $155
Brennen Hakimian was the buyer in this transaction, while the seller was the Temkin Family. The deal was facilitated by the broker Michael Monempour.
On the Map
$5,600,000
$155/SF
Development Site
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93