Updated Sep 5, 2024
Richard Smith Acquires Development Site In Ventura For $6M
760 S Seaward Ave, Ventura, CA, USA
$6,000,000
$175/SF
Building Size
34,184 SF
Asset Type
Development Site
Closing
Oct 27, 2021
About this deal
AI
Located at 760 S. Seaward Ave. in Ventura, this development site spans across 3.38 acres. The property was sold on October 27, 2021, for a total of $6,000,000. The transaction involved a development site in the Ventura market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $6,000,000
- Address: 760 S. Seaward Ave.
- Market: Ventura
- Acres: 3.38
The buyer in this transaction was Richard Smith, while the seller was Howard Chang. Nick Nardoni from Equity Commercial Real Estate Services, Inc. represented the buyer as their broker, and Lillian Lepore from KW Commercial represented the seller.
Players
Ventura 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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93