Updated Dec 4, 2024
Michael Shlomof Acquires Development Site In Los Angeles For $1M
1614 South Sycamore Avenue
$1,000,000
Building Size
—
Asset Type
Development Site
Closing
Nov 13, 2023
About this deal
AI
The development site located at 1614 South Sycamore Avenue in Los Angeles has been sold in a transaction. The property spans 9,300 square feet and was sold for a price of $1,000,000, resulting in a price per square foot of $108.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,000,000
- Lot Size: 9,300 square feet
- Price per Square Foot: $108
The buyer in this transaction is Michael Shlomof and the seller is Jerry Fine. The deal was facilitated by Ariel Sayani from Keller Williams Realty.
On the Map
$1,000,000
Development Site
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Players
Los Angeles Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93