Updated Dec 4, 2024
Maria Lopez Acquires Development Site In Ridgecrest From Michael Citronenbaum For $65,500
ridgecrest
$14,500
$1/SF
Building Size
9,000 SF
Asset Type
Development Site
Closing
Sep 10, 2024
About this deal
AI
The asset involved in this recent transaction is a development site located in Ridgecrest, Kern County, and Lancaster, Los Angeles County. The sale was finalized for a total of $65,500, representing a property covering 12.5 acres.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $65,500
- Buyer: Maria Lopez
- Seller: Michael Citronenbaum
- Broker: Michael Citronenbaum - Citronenbaum
- Market: Ridgecrest, Kern County, Lancaster Los Angeles County
- Acres: 12.5
Michael Citronenbaum represented the seller in this transaction, showcasing his role as the broker facilitating the deal. Maria Lopez is the buyer of this development site.
On the Map
$14,500
$1/SF
Development Site
View full map
Ridgecrest 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
1094.00%
Cash-on-Cash
-312.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93