Updated Sep 9, 2024
Frank Darmineto Sells Development Site In West Adams For $2.62M With Brokers Marcus & Millichap
5213 West Adams Boulevard, Los Angeles, CA, USA
$2,620,000
$429/SF
Building Size
6,098 SF
Asset Type
Development Site
Closing
Sep 15, 2021
About this deal
AI
A development site located at 5213 W. Adams Blvd. in West Adams has been sold for $2,620,000. The property spans 6,098 square feet and has a price per square foot of $429. The transaction took place on September 15, 2021.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $2,620,000
- Property Address: 5213 W. Adams Blvd.
- Market: West Adams
- Seller: Frank Darmineto
- Brokers: Brandon Michaels, Matthew Luchs, and Andrew Leff - Marcus & Millichap
- SQ FT: 6,098
- Price per SQ FT: $429
The sale of the development site was facilitated by Brandon Michaels, Matthew Luchs, and Andrew Leff from Marcus & Millichap. This transaction presents a significant opportunity for the buyer to capitalize on the potential of the property in the West Adams market.
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
6.05%
Cash-on-Cash
-1.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93