Hooman Ghafarri Acquires Development Site In Koreatown For $1.4M
904 South Normandie Avenue, Los Angeles, California 90006, United States
$1,400,000
$218/SF
Building Size
6,400 SF
Asset Type
Development Site
Closing
Feb 9, 2022
AI
The development site located at 904 S. Normandie Ave. in Koreatown has been sold for a price of $1,400,000. Spanning across 6,400 square feet, the property was acquired by Hooman Ghafarri from the seller, Abraham Song. Ariel Sayani and Ardy Ishal, from BRC Advisors, represented both parties in the transaction.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,400,000
- Address: 904 S. Normandie Ave.
- Market: Koreatown
This deal was facilitated by the brokers Ariel Sayani and Ardy Ishal from BRC Advisors. Their expertise and representation contributed to a successful transaction between the buyer, Hooman Ghafarri, and the seller, Abraham Song. No additional information is available regarding this transaction.
Players
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93