Said Mehrinfar Acquires Development Site In Westlake, Los Angeles For $1.85M
214 South Rampart Boulevard
$1,850,000
$264/SF
Building Size
6,999 SF
Asset Type
Development Site
Closing
Oct 11, 2022
AI
The development site located at 214 S Rampart Blvd in Westlake, Los Angeles, CA has been sold. The property spans 6,999 square feet and was purchased for a total of $1,850,000, resulting in a price per square foot of $264. The buyer, Said Mehrinfar, acquired the site from the seller, Kamran Hakim. The sale was facilitated by Richard Ringer, Yana Vlady, and Jon Emrani from Marcus & Millichap, who represented the seller.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,850,000
- Building Square Footage: 6,999
- Price Per Square Foot: $264
- Seller: Kamran Hakim
- Seller's Representative: Richard Ringer, Yana Vlady & Jon Emrani - Marcus & Millichap
- Buyer: Said Mehrinfar
This transaction involved the collaboration of key individuals and companies, including the buyer, Said Mehrinfar, and the seller's representatives, Richard Ringer, Yana Vlady, and Jon Emrani from Marcus & Millichap. They played crucial roles in facilitating the sale of the development site at 214 S Rampart Blvd.
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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
8.57%
Cash-on-Cash
-2.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93