Derrick J. Smith Acquires Development Site In Santa Monica For $3.35M
704 15th Street, Santa Monica, CA, USA
$3,350,000
$445/SF
Building Size
7,524 SF
Asset Type
Development Site
Closing
Apr 15, 2021
AI
A development site located at 704 15th Street in Santa Monica (N. Of Montana) was recently sold for a price of $3,350,000. The sale took place on April 16, 2021. The property has a building square footage of 7,524. The purchase price per building square footage is approximately $445. The transaction was facilitated by Derrick J. Smith from LiveLuxuryla and TheSmithPartners.
Summary of transation details
- Property Type: Dev Site
- Transaction Amount: $3,350,000
Derrick J. Smith from LiveLuxuryla and TheSmithPartners represented the parties involved in the deal. The sale of this development site in Santa Monica highlights the expertise and negotiation skills demonstrated by Derrick J. Smith in successfully closing the transaction.
Santa Monica 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
4.74%
Cash-on-Cash
-1.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93