Updated Sep 9, 2024
Kleinberger Family Acquires Development Site In Encino, Los Angeles For $7M
4741 Libbit Avenue, Encino, California 91436, United States
$7,000,000
$259/SF
Building Size
27,017 SF
Asset Type
Development Site
Closing
Mar 17, 2022
About this deal
AI
The development site located at 4741 Libbit Ave in Encino, Los Angeles has been sold for $7,000,000. Spanning across 27,017 square feet, the property offers ample space for potential development. With a price per square foot of $259, this sale presents a significant investment opportunity.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $7,000,000
- Date: 03/18/2022
- Address: 4741 Libbit Ave, Encino, Los Angeles
- Market: Encino, Los Angeles
The buyer of the property was the Kleinberger Family, while the seller was the Bronfman Family. Almog Strikowski and Dario Svidler represented both parties as brokers in this transaction, ensuring a smooth and successful deal was achieved.
On the Map
$7,000,000
$259/SF
Development Site
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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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93