Updated Sep 5, 2024
John Bradshaw Acquires Development Site On Drexel Ave In Beverly Grove From Ilene & Gerald Sraberg
6225 Drexel Avenue, Los Angeles, CA, USA
$1,550,000
$256/SF
Building Size
6,050 SF
Asset Type
Development Site
Closing
Apr 28, 2020
About this deal
AI
A vacant duplex located at 6225 Drexel Ave. in Beverly Grove has been sold in a recent transaction. The development site, spanning over 6,050 square feet, was purchased by John Bradshaw for a sale price of $1,550,000. The property is zoned as LAR1-1, allowing for various possibilities of use and development.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,550,000
- Date: 04/28/2021
- Market: Beverly Grove
- Existing Structure: Vacant Duplex
- LOT SF: 6,050
- PPSF: $256
- Zoning: LAR1-1
Yohann Bensimon of Ikon Advisors represented both the buyer, John Bradshaw, and the seller, Ilene & Gerald Sraberg, in this transaction. With their expertise, they facilitated a successful deal for both parties involved.
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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93