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619 South Prairie Avenue, I...

Melody Eshaghian Acquires Development Site In Inglewood For $10.99M
SOLDDevelopment Site

Melody Eshaghian Acquires Development Site In Inglewood For $10.99M

619 South Prairie Avenue, Inglewood, California 90301, United States

$10,990,000

$270/SF

Building Size

40,580 SF

Asset Type

Development Site

Closing

May 12, 2022

AI

Located at 619 S. Prairie Ave in Inglewood, this development site recently changed hands in a sale transaction. The property is a development site, offering the potential for future construction and expansion. The sale took place on 05/13/2022, and the buyer of the property was Melody Eshaghian. White & Day, represented by John Kirk, served as the seller in this transaction.

Summary of transaction details

  • Property Type: Development Site
  • Transaction Amount: $10,990,000
  • Address: 619 S. Prairie Ave
  • Market: Inglewood

Mitchell Stokes from Madison Partners represented the buyer, Melody Eshaghian, in this sale. On the seller's side, CBRE acted as the representative, with Simon Mattox, Austin Wolitarsky, Dan Riley, Kyle Woods, Bill Durslag, Mike McKinney, and Nancy Bush from Lyon Stahl assisting in the transaction.

This sale involved a total sale price of $10,990,000. The Building Square Footage (BSF) measures approximately 40,580, resulting in a Price Per Building Square Foot (PPBSF) of $270.

Players

Simon Mattox

Kidder Mathews

Broker

$414.9M

vol

20 deals

Broker

John Kirk

Seller

$17.6M

vol

3 deals

Seller

Inglewood 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

1.44%

Cash-on-Cash

-0.41%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93