Updated Oct 29, 2024
Back Bay Investment Group Acquires Development Site In Westminster For $2.6M
6260 Westminster Boulevard
$2,600,000
Building Size
—
Asset Type
Development Site
Closing
Nov 30, 2022
About this deal
AI
A development site located at 6260 Westminster Blvd in Westminster has been sold for $2,600,000. The property is a prime location for potential development opportunities.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $2,600,000
- Address: 6260 Westminster Blvd, Westminster
- Market: Westminster
The buyer, Back Bay Investment Group represented by David Lipp, acquired the property from the seller, Lopez Family Trust. Back Bay Investment Group identified the potential for development at this location and saw great value in the property.
Players
Westminster Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93