Sola Impact Acquires Development Site On Crenshaw Boulevard In Los Angeles For $7.5M
SOLD
$7,500,000
California
See Similar DealsDevelopment Site20,909 SF
Sold 01/12/2023
SOLD
Sola Impact Acquires Development Site On Crenshaw Boulevard In Los Angeles For $7.5M
3501 Crenshaw Boulevard
See Similar DealsDevelopment Site20,909 SF
Sold 01/12/2023
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$358
Total Square Footage:20,909 SF
Transaction Type:Sale
A development site located at 3501 Crenshaw Boulevard in Los Angeles has been sold in a closed transaction. The property is characterized as a development site and was sold for a price of $7,500,000. It spans 20,909 square feet and has a price per buildable square foot (PPBSF) of $359.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $7,500,000
- Address: 3501 Crenshaw Boulevard
- Market: Los Angeles
- Buyer: Sola Impact
- Seller: Dae Lee
- Brokers: Orbell Ovaness, Ara Rostamian & Jason Anguiano - Marcus & Millichap
The deal was facilitated by Orbell Ovaness, Ara Rostamian, and Jason Anguiano from Marcus & Millichap. They acted as brokers representing both the buyer, Sola Impact, and the seller, Dae Lee. This transaction highlights the key individuals and companies involved in the deal, providing valuable insight into the parties responsible for the successful sale of the development site.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$400,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$26,645.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$35,553.83
Annual Debt Service$426,645.92
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