Updated Sep 5, 2024
Yohann Bensimon's Ikon Capital Advisors Sells Development Site On 807 N. Cherokee Ave. In Hollywood For $1.5M
807 North Cherokee Avenue, Los Angeles, CA 90038
$1,515,000
$1,417/SF
Building Size
1,069 SF
Asset Type
Development Site
Closing
Jun 21, 2020
About this deal
AI
A development site located at 807 N. Cherokee Ave. in Hollywood has been sold for a price of $1,515,000. The property, which previously housed a vacant SFR (Single Family Residence), is slated for future development into four large townhome rental units. The structure has a building square footage (BSF) of 1,069 and a land square footage (LSF) of 6,255. The zoning of the property is categorized as LARD1.5, and the price per land square footage (PPLSF) is approximately $242.20.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,515,000
- Address: 807 N. Cherokee Ave.
- Market: Hollywood
- Existing Structure: Vacant SFR
- Future Development: 4 Large Townhome Rental Units
- BSF: 1,069
- LSF: 6,255
- Zoning: LARD1.5
- PPLSF: $242.20
The transaction was facilitated by Yohann Bensimon from Ikon Capital Advisors, acting as the broker representing the deal.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.47%
Cash-on-Cash
-2.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93