Thanh Phan Purchases Development Site In San Jose From Van-Thi Huynh For $1.6M
3098 Florence Avenue
$1,600,000
$1,002/SF
Building Size
1,596 SF
Asset Type
Development Site
Closing
Jan 29, 2025
AI
This development site, located at 3098 Florence Avenue in San Jose, was sold for $1,600,000. The property encompasses a total square footage of 1,596, resulting in a price per square foot of $1,002.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,600,000
- Buyer: Thanh Phan
- Seller: Van-Thi Huynh
- Brokers: Ron E. Cruz & Sean O'Carroll - The Econic Company
Ron E. Cruz and Sean O'Carroll represented both sides of the transaction as brokers from The Econic Company, facilitating the deal between the buyer, Thanh Phan, and the seller, Van-Thi Huynh.
Players
San Jose 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93