Daniel & Esther Suh Acquire Development Site In Los Angeles From James McNeal For $4.7M
4718 Oakwood Avenue
$4,700,000
$211/SF
Building Size
22,253 SF
Asset Type
Development Site
Closing
Mar 18, 2026
AI
The development site located at 4718 Oakwood Avenue in Los Angeles has been sold for $4,700,000. The property spans 22,253 square feet with a per square foot price of $211. It has been under the same family ownership for over 50 years and is zoned LAR3.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $4,700,000
- Square Footage: 22,253
- Address: 4718 Oakwood Avenue
- Market: Los Angeles
- Buyer: Daniel & Esther Suh
- Seller: James McNeal
- Brokers: Filip Niculete, Glen Scher - LAAA Team - Marcus & Millichap; Ray Akbari - The Agency; Cyrus Ahmadi - Standard Realty
- Note from Broker: Closed March 18, 2026, with negotiations preserving the deal through a non-refundable deposit release.
The buyer, Daniel and Esther Suh, have plans to develop a 128-bed Mental Health Rehabilitation Center on the site. This development is being expedited as it doesn't require additional City Planning entitlements.
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
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93