Babak Tabarsi Sells Long Beach Development Site For $1.7M
SOLD
$1,700,000
California
See Similar DealsDevelopment Site25,000 SF
Sold 09/01/2020
SOLD
Babak Tabarsi Sells Long Beach Development Site For $1.7M
6432 Long Beach Boulevard, Long Beach, CA, USA
See Similar DealsDevelopment Site25,000 SF
Sold 09/01/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$68
Total Square Footage:25,000 SF
Transaction Type:Sale
A development site located at 6432 Long Beach in Long Beach has been sold for $1,700,000. The property spans 25,000 square feet, resulting in a price per buildable square foot of $68.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,700,000
The seller of the property was Babak Tabarsi. The brokers involved in the deal were Rafi Jacobi and Kyle Pari.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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