Updated Oct 29, 2024
Sunmar LLC Acquires Development Site In East Hollywood For $4.5M
1438 North Mariposa Avenue, Los Angeles, CA, USA
$4,487,500
$678/SF
Building Size
6,614 SF
Asset Type
Development Site
Closing
Nov 24, 2019
About this deal
AI
A development site in East Hollywood has been sold in a off-market transaction. The site is located at 5016 W Sunset Boulevard, 1442 N Mariposa Avenue, 1440 N Mariposa Avenue, and 1438 N Mariposa Avenue. This rare 4-lot assemblage spans 0.38 acres with a total of 16,741 square feet of land. The property is eligible for Tier 3 TOC (Transit Oriented Communities) and is located in an Opportunity Zone. The zoning designation for the site is LAC2.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $4,487,500
- Square Footage: 6,614
- Price per Square Foot: $678.49
- Market: East Hollywood
The buyer of the property is Sunmar LLC. The deal was represented by brokers Sam Liberow, Max Gersht, Aida Memary, Filip Niculete, and Glen Scher of The Liberow Group and LA Apartment Advisors.
Players
Los Angeles Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93