Updated Oct 26, 2026
Tobias Harris And Terry Harris Acquire Development Site From Joseph Proctor In Los Angeles For $1.9M
4545 Santa Monica Boulevard
$1,900,000
$190/SF
Building Size
9,986 SF
Asset Type
Development Site
Closing
Sep 13, 2024
About this deal
AI
The property involved in this transaction is a development site located at 4545 Santa Monica Boulevard in Los Angeles. The asset was sold for $1,900,000, covering an area of 9,986 square feet, which translates to a price per square foot of $190.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $1,900,000
- Sale Date: 09/13/2024
- Buyer: Tobias Harris & Terry Harris
- Seller: Joseph Proctor
- Broker: Jason Tuvia - Marcus & Millichap
- Market: Los Angeles
- Square Footage: 9,986
- Price per Square Foot: $190
The deal was facilitated by Jason Tuvia representing the seller, Joseph Proctor. Proctor noted his appreciation for Tuvia's persistence in navigating a challenging market during the sale process and expressed his willingness to work with him again in the future.
On the Map
$1,900,000
$190/SF
Development Site
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Players
Los Angeles Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93