Updated Sep 9, 2024
Buyer Acquires Development Site On S. Beverly Glen Blvd In Westwood
2031 South Beverly Glen Boulevard, Westwood, Los Angeles, CA, USA
$5,950,000
$475/SF
Building Size
12,502 SF
Asset Type
Development Site
Closing
Oct 23, 2019
About this deal
AI
A development site located at 2027 & 2031 S. Beverly Glen Blvd in Westwood has been sold off-market for $5,950,000. The property spans 12,502 square feet and has a price per square foot of $475.92. It consists of 26 units with a price per unit of $228,846. The sale was facilitated by broker Michael Monempour.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $5,950,000
- Square Footage: 12,502
- Price per Square Foot: $475.92
- Number of Units: 26
- Price per Unit: $228,846
- Broker: Michael Monempour
The property was sold without any plans or entitlements in place. The buyer intends to develop 26 units on the site.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.67%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93