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Chen Lu Acquires Development Site In San Gabriel Valley, El Monte For $10.5M

Property Image
SOLD
$10,500,000
Tony Naples
Rose O'sullivan
Stephen Lam

California

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Development Site144 SF
Sold 06/01/2023
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Property Image
SOLD

Chen Lu Acquires Development Site In San Gabriel Valley, El Monte For $10.5M

3133 Maxson Road

See Similar Deals
Development Site144 SF
Sold 06/01/2023
Tony Naples
Rose O'sullivan
Stephen Lam
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$72,916
Total Square Footage:144 SF
Transaction Type:Sale

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

Rose O'sullivan
NAI Global
Rose O'sullivan
9 deals$57.2M volume(805) 338-9232
BROKER
Tony Naples
Lee & Associates
Tony Naples
11 deals$183.2M volume
BROKER
Stephen Lam
NAI Global
Stephen Lam
2 deals$15.6M volume(626) 204-1514
BROKER

Details

SOLD
IMAGE: Tony Naples, Rose O’Sullivan & Stephen Lam DATE: 01/06/2023 ADDRESS: 3133 - 3141 Maxson Rd & 12114 Garvey Ave MARKET: San Gabriel Valley, El Monte ASSET TYPE: Development Site BUYER: Chen Lu SELLER: Korman Enterprises - Nathan Korman BUYER'S REP: Tony Naples - Lee & Associates (@LeeandAssociates) SELLER'S REP: Rose O'Sullivan & Stephen Lam - NAI Capital (@NAICapital) SALE PRICE: $10,500,000 LOT SF: 144,054 ~ PPLSF: $73

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$37,304.29
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