Siamak Torkian Sells Development Site In Los Angeles For $18 Million With Buyer's Rep Karl Markarian
SOLD
$18,000,000
California
See Similar DealsDevelopment Site
Sold 06/26/2019
SOLD
Siamak Torkian Sells Development Site In Los Angeles For $18 Million With Buyer's Rep Karl Markarian
495 Hartford Avenue
See Similar DealsDevelopment Site
Sold 06/26/2019
Summary
CALIFORNIA
Asset Type:Development Site
Transaction Type:Sale
A development site located at 495 Hartford Avenue in Los Angeles was sold for $18,000,000 on June 26, 2019. The property details highlight its relevance in the current market trend for development opportunities in the area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $18,000,000
- Seller: Siamak Torkian
- Buyer's Representative: Karl Markarian - JohnHart Real Estate
- Market: Los Angeles
Key individuals involved in this transaction include seller Siamak Torkian and buyer's representative Karl Markarian from JohnHart Real Estate, indicating the collaboration between private entities in navigating the real estate market.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$960,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,950.20
Cash-on-Cash Return-1.27%
Monthly Debt Service$85,329.18
Annual Debt Service$1,023,950.20
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