Updated Sep 9, 2024
Farshid Pourlavaei Acquires Development Site In Los Angeles For $1.85M
1967 Preuss Road, Los Angeles, CA, USA
$1,850,000
$231/SF
Building Size
8,000 SF
Asset Type
Development Site
Closing
Nov 30, 2021
About this deal
AI
A development site located at 1967 Preuss Road in Los Angeles was recently sold for a price of $1,850,000. The property spans 8,000 square feet and has a price per buildable square foot (PPBSF) of $231. The transaction took place on November 30, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,850,000
The buyer of the property was Farshid Pourlavaei, while Skip Ziccardi acted as the seller. The sale was facilitated by Michael Monempour and David Saghian from Kidder Mathews, who served as the brokers in the transaction. Notably, the deal closed within a span of just 14 days. The buyer plans to redevelop the property into six townhomes and two accessory dwelling units (ADUs), highlighting the developer's vision for the site.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit David Saghian to view all their deals.
Browse California development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93