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Michael Shlomof Acquires Development Site In Los Angeles For $1M

Property Image
SOLD
$1,000,000

California

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Development Site
Sold 11/13/2023
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Property Image
SOLD

Michael Shlomof Acquires Development Site In Los Angeles For $1M

1614 South Sycamore Avenue

See Similar Deals
Development Site
Sold 11/13/2023
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale

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.

Players

Ariel Sayani
Partners CRE
Ariel Sayani
25 deals$69.5M volume(310) 968-7711
BROKER

Details

SOLD
IMAGE: Ariel Sayani DATE: 11/13/2023 ADDRESS: 1614 South Sycamore Avenue MARKET: Los Angeles ASSET TYPE: Development Site BUYER: Michael Shlomof SELLER: Jerry Fine BROKER: Ariel Sayani (@ArielSayani) - Keller Williams Realty (@KellerWilliamsRealty) SALE PRICE: $1,000,000 LOT SF: 9,300 ~ PPLSF: $108

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Operating Expenses (Annual)
Net Operating Income (NOI)

$53,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12