Updated Dec 19, 2023
Rick Dreyfus Acquires Development Site In West Los Angeles For $6.33M
2448 South Barrington Avenue, Los Angeles, California 90064, United States
$6,330,000
$111/SF
Building Size
57,000 SF
Asset Type
Development Site
Closing
May 16, 2022
About this deal
AI
A development site located at 2448 S. Barrington Ave. in West Los Angeles has been sold for $6,330,000. The property spans 16,500 square feet, with a price per square foot of $384. The buyer of the site is Rick Dreyfus, while the seller is Rose Eldabe. The transaction was facilitated by Nitti Kaur from Abundance360 Inc.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,330,000
- Market: West Los Angeles
- Address: 2448 S. Barrington Ave.
- Buyer: Rick Dreyfus
- Seller: Rose Eldabe
- Broker: Nitti Kaur - Abundance360 Inc.
- Lot Size: 16,500 square feet
- Price per Square Foot: $384
The sale of this development site represents a significant investment opportunity in the West Los Angeles market. With a transaction price of $6,330,000, the buyer, Rick Dreyfus, aims to capitalize on the potential growth and development prospects of the site. Rose Eldabe, the seller, saw this as a favorable opportunity to monetize the property. The transaction was facilitated by Nitti Kaur from Abundance360 Inc., ensuring a smooth and successful deal for all parties involved.
Players
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
2.51%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93