Updated Mar 6, 2025
David Levy Of The Ketter Group Acquires Development Site On South Fairfax Ave For $4M
1550 S Fairfax Ave, Los Angeles, CA, USA
$4,000,000
$290/SF
Building Size
13,772 SF
Asset Type
Development Site
Closing
Oct 14, 2019
About this deal
AI
This development site located at 1550 South Fairfax Ave and 1556 South Fairfax Ave has been sold. The buyer, David Levy of The Ketter Group, acquired the property for a price of $4,000,000. The asset type of this site is a development site, presenting an opportunity for future construction or redevelopment.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,000,000
- Buyer: David Levy - The Ketter Group
- Broker: Michael Kafaei
It is worth noting that the land backs to another current Ketter Group project, which is located at 1551-1557 S. Orange Grove. The neighboring site is currently undergoing entitlement for 30 units. Additionally, The Ketter Group is also in the midst of construction for a 45-unit development located three blocks west on the corner of Hi Point and Pickford.
For more information about The Ketter Group and their projects, visit their website at www.thekettergroup.com.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93