Lindon Shao Acquires Development Site On Rosewood Avenue In Los Angeles For $1.46M

The property located at 4136 Rosewood Avenue in Los Angeles is a Development Site that was recently sold for $1,460,000. Spanning 9,901 square feet, the site was snapped up by Lindon Shao from seller Matan Agam. The transaction closed smoothly, with the Buyer represented by Geo Kim & Jessica Shin from GAIA Property Group, and the Seller represented by Jeremy Shore & Oron Maher from Maher Commercial Realty. The sale price per square foot was calculated at $147.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,460,000
• Buyer: Lindon Shao
• Buyer's Rep: Geo Kim & Jessica Shin - GAIA Property Group
• Seller: Matan Agam
• Seller's Rep: Jeremy Shore & Oron Maher - Maher Commercial Realty
• Square Footage: 9,901
• Market: Los Angeles

The Seller's representative, Jeremy Shore & Oron Maher from Maher Commercial Realty, noted that the property went under contract within just 4 weeks of marketing and closed in a span of 90 days, achieving an impressive outcome at 98% of the asking price, despite the high-interest rate environment. Additionally, the property came with RTI plans for 16 market rate units, providing the Buyer with the option to pursue a new entitlement path to potentially increase density in the future.