Updated Oct 29, 2024
Sepco LLC Acquires Development Site In Prime West LA For $6.1M With Brokers Jordan Asheghian & Tony Azzi
2616 South Sepulveda Boulevard, Los Angeles, CA 90064, USA
$6,100,000
$311/SF
Building Size
19,578 SF
Asset Type
Development Site
Closing
Nov 14, 2019
About this deal
AI
A development site in West LA has been sold for $6,100,000. The property is located at 2600-2616 S Sepulveda and consists of four adjacent lots. The total building square footage (BSF) of the site is 19,572, resulting in a price per square foot (PPSF) of $311.67. The transaction took place on November 15, 2019.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $6,100,000
- Address: 2600-2616 S Sepulveda, West LA
- BSF: 19,572
- PPSF: $311.67
Sepco LLC, represented by Ely Khakshouri, purchased the property. The buyer's representatives in the deal were Jordan Asheghian and Tony Azzi. The four adjacent lots, delivered vacant, offer prime real estate in West LA. The seller provided a rendering of the site. To allow for the buyer's entitlements, a 12-month escrow was structured for the transaction.
Players
Los Angeles Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.60%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93