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214 South Rampart Boulevard

Said Mehrinfar Acquires Development Site In Westlake, Los Angeles For $1.85M
SOLDDevelopment Site

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.

Players

Richard Ringer

Marcus & Millichap

Broker

$169.7M

vol

19 deals

Broker

Kamran Hakim

Seller

$199M

vol

8 deals

Seller

Los Angeles Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

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