Holland Ashrafnia Purchases Development Site From Scott Myers For $5,725,000 In Santa Monica
SOLD
$5,725,000
+ 1
California
See Similar DealsDevelopment Site17,895 SF
Sold 03/20/2026
SOLD
Holland Ashrafnia Purchases Development Site From Scott Myers For $5,725,000 In Santa Monica
745 & 749 17th Street, Santa Monica, Ca, 90402
See Similar DealsDevelopment Site17,895 SF
Sold 03/20/2026
+ 1
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$319
Total Square Footage:17,895 SF
Transaction Type:Sale
The development site located at 745 & 749 17th Street in Santa Monica has been sold for $5,725,000. The total square footage of the property is 17,895, resulting in a price per square foot of $319.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $5,725,000
- Address: 745 & 749 17th Street
- Market: Santa Monica
- Square Footage: 17,895
- Price Per Square Foot: $319
- Buyer: Holland Ashrafnia
- Seller: Scott Myers
- Brokers: Glenn Brander & Zach Friedman - Miller & Desatnik Realty
The deal was facilitated by Glenn Brander and Zach Friedman, who represent the brokerage firm Miller & Desatnik Realty. The transaction highlights the involvement of these brokers in overseeing and negotiating the details of this property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$305,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,339.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,139.42
Annual Debt Service$325,673.05
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