Jeremy Shore Acquires Development Site In Koreatown For $3.5M
749 Gramercy Drive, Los Angeles, CA, USA
$3,537,500
$269/SF
Building Size
13,106 SF
Asset Type
Development Site
Closing
May 30, 2019
AI
A development site in Koreatown has been sold for $3,537,500. Located at 743-749 Gramercy Dr, the site spans an area of 13,106 square feet. With a price per square foot of $269.91, the property comprises six units, resulting in a price per unit of $589,583. The transaction reflects a capitalization rate of 2.9%. Jeremy Shore of Maher Commercial brokered the deal.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $3,537,500
- Address: 743-749 Gramercy Dr
- Market: Koreatown
- Square Footage: 13,106
- Price per Square Foot: $269.91
- Units: 6
- Price per Unit: $589,583
- Capitalization Rate: 2.9%
Jeremy Shore of Maher Commercial facilitated the transaction of this Koreatown development site.
Los Angeles 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
4.48%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93