Development Site In East Hollywood Sells For $5.45M With Brandon Michaels, Matthew Luchs, Andrew Leff, And Ben Brownstein As Brokers
SOLD
$5,450,000
+ 1
California
See Similar DealsDevelopment Site18,170 SF
Sold 03/02/2021
SOLD
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
See Similar DealsDevelopment Site18,170 SF
Sold 03/02/2021
+ 1
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$299
Total Square Footage:18,170 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$290,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,362.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$25,835.78
Annual Debt Service$310,029.37
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