Omid Saleh Brokers $3.5M Sale Of Dev Site In Palms, Culver City
3652 Empire Drive, Los Angeles, CA 90034
$3,485,000
$318/SF
Building Size
10,948 SF
Asset Type
Development Site
Closing
Jun 7, 2020
AI
Omid Saleh represented the buyer in the sale of a development site located at 3648-3652 Empire Dr. in Palms, Culver City. The property consists of an existing 4plex and SFR, making it a valuable investment opportunity. The transaction took place on 06/07/2021.
Summary of transaction details
- Property Type: Development Site (existing 4plex & SFR)
- Sale Price: $3,485,000
- BSF (Building Square Footage): 10,948
- PPBSF (Price per Building Square Footage): $318
- Address: 3648-3652 Empire Dr., Palms, Culver City
- Market: Palms, Culver City
The sale price for the development site was $3,485,000. The property offers a total building square footage of 10,948, resulting in a price per building square footage of $318. Omid Saleh of [ADD AGENCY NAME] facilitated the deal, representing the buyer. This transaction presents an excellent opportunity for the buyer to develop the existing 4plex and SFR into a profitable venture.
Los Angeles 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
4.55%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93