Development Site In East Hollywood Sells For $5.45M With Brandon Michaels, Matthew Luchs, Andrew Leff, And Ben Brownstein As Brokers
3004 Sunset Blvd, East Hollywood, Los Angeles, CA, USA
$5,450,000
$299/SF
Building Size
18,170 SF
Asset Type
Development Site
Closing
Mar 1, 2021
AI
A development site located at 3004 Sunset Blvd. in East Hollywood has been sold for $5,450,000. The property spans 18,170 square feet, resulting in a price per square foot of $300.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,450,000
- Address: 3004 Sunset Blvd.
- Market: East Hollywood
- Square Footage: 18,170
The sale of this development site was facilitated by Brandon Michaels, Matthew Luchs, Andrew Leff, and Ben Brownstein. Brandon Michaels represents the Brandon Michaels Group, Matthew Luchs represents himself, and Andrew Leff and Ben Brownstein are affiliated with BenBrownsteinCRE.
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
2.91%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93