Updated May 5, 2026
American Real Estate Enterprises Purchases Development Site In San Pedro For $2.4M
420-424 9th Street, San Pedro, Ca 90731
$2,400,000
$148/SF
Building Size
16,214 SF
Asset Type
Development Site
Closing
Apr 15, 2026
About this deal
AI
The property involved in this transaction is a development site located at 420-424 9th Street in the San Pedro/Long Beach market. The sale price for the asset was $2,400,000, with a total square footage of 16,214 and a price per square foot of $148.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $2,400,000
- Address: 420-424 9th Street
- Market: San Pedro/Long Beach
- Square Footage: 16,214
- Price per Square Foot: $148
- Buyer: American Real Estate Enterprises
- Seller: Hicham Belkssir
- Broker: Jesse Muñoz - Lee & Associates
This transaction involved notable participants, with American Real Estate Enterprises acquiring the site from seller Hicham Belkssir. The deal was facilitated by broker Jesse Muñoz, representing the interests of the buyer in this transaction.
On the Map
$2,400,000
$148/SF
Development Site
View full map
Players
San Pedro Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
Loading comparables…
Deal FAQ
Visit Jesse Muñoz to view all their deals.
Browse California development site sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.61%
Cash-on-Cash
-1.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93