Chen Lu Acquires Development Site In San Gabriel Valley, El Monte For $10.5M
3133 Maxson Road
$10,500,000
$72,916/SF
Building Size
144 SF
Asset Type
Development Site
Closing
Jun 1, 2023
AI
A development site in San Gabriel Valley, El Monte has been sold for a price of $10,500,000. The property, located at 3133-3141 Maxson Rd & 12114 Garvey Ave, spans a total of 144,054 square feet with a price per square foot of $73. The transaction took place on January 6, 2023.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $10,500,000
- Address: 3133-3141 Maxson Rd & 12114 Garvey Ave, San Gabriel Valley, El Monte
- Lot Size: 144,054 square feet
- Price per Square Foot: $73
Chen Lu has acquired the property, representing the buyer. The seller, Korman Enterprises, was represented by Nathan Korman. Tony Naples from Lee & Associates acted as the buyer's representative, while Rose O'Sullivan and Stephen Lam represented the seller on behalf of NAI Capital.
Players
El Monte 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
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93