Martin Perez Acquires Development Site In Los Angeles From Ramin Shillian For $1.6M

The property asset involved in this transaction is a development site located at 4424 South Western Avenue in the Los Angeles market. The sale closed at a price of $1,600,000, with a price per buildable unit of $34,043 and a price per square foot of land at $138.03. The site encompasses a total area of 11,592 square feet and is designated for a 47-unit ED1 project.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,600,000
• Buyer: Martin Perez
• Seller: Ramin Shillian
• Seller's Representative: Reza Ghobadi & Ryan Maanek - Colliers
• Price Per Buildable Unit: $34,043
• Price Per Square Foot Land: $138.03
• Project Size: 11,592 Sq. Ft.
• Project Units: 47
• Transaction Type: Sale
• Closing Duration: 30 days
• Transaction Method: All cash

Reza Ghobadi and Ryan Maanek from Colliers represented the seller, Ramin Shillian, during this transaction. This all-cash sale reflects a swift closure within a 30-day period, indicating a quick exchange of ownership. Additional insights about the development site and its specifications can be obtained by contacting the seller's representatives.