TRJLA Acquires Development Site In Chinatown For $19M
SOLD
$19,000,000
California
See Similar DealsDevelopment Site369,538 SF
Sold 01/14/2021
SOLD
TRJLA Acquires Development Site In Chinatown For $19M
717-759 Hill Street, Central LA, Los Angeles, CA, USA
See Similar DealsDevelopment Site369,538 SF
Sold 01/14/2021
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$51
Total Square Footage:369,538 SF
Transaction Type:Sale
The development site located at 717-759 Hill Street in Chinatown has been sold. The property, with a building square footage (BSF) of 369,538, was purchased by TRJLA for $19,000,000. The price per building square footage (PPBSF) was $51. The seller of the property was Pacific Alliance Medical Center.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $19,000,000
- Address: 717-759 Hill Street
- Market: Chinatown
The deal was facilitated by Eugene Page and Martin Nguyen from Centre Urban Real Estate, who represented TRJLA as the buyer in the transaction. No additional information about the transaction was provided.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,013,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32
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