Brian Rupp Of Shopoff Realty Investments Acquires Development Site In Desert Hot Springs For $39.5M
SOLD
$39,500,000
California
See Similar DealsDevelopment Site2,809,620 SF
Sold 06/10/2024
SOLD
Brian Rupp Of Shopoff Realty Investments Acquires Development Site In Desert Hot Springs For $39.5M
64200 20th Ave, Desert Hot Springs, Ca 92258
See Similar DealsDevelopment Site2,809,620 SF
Sold 06/10/2024
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$14
Total Square Footage:2,809,620 SF
Transaction Type:Sale
Development site located in Desert Hot Springs, CA, with a sale price of $39,500,000. The property encompasses a total building square footage of 2,809,620, resulting in a price per building square foot of $14.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $39,500,000
- Buyer: Brian Rupp, Executive Vice President - Shopoff Realty Investments
- Seller: Travis King - REALM, LP
- Brokers: Ian DeVries & Chris DeVries - Colliers
This transaction involved key representatives in the real estate sector, with Brian Rupp overseeing the acquisition on behalf of Shopoff Realty Investments. The sale was facilitated through the brokerage expertise of Ian DeVries and Chris DeVries, representing the seller, Travis King of REALM, LP.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$140,335.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$187,250.15
Annual Debt Service$2,247,001.82
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