Updated Dec 4, 2024
Ana Pantoja & Endre Barath Handle $11.95M Land Sale In Los Angeles
1553 Cliff Drive
$11,950,000
$1,642/SF
Building Size
7,276 SF
Asset Type
Land
Closing
Apr 30, 2024
About this deal
AI
The vacant land located at 1553 Cliff Drive in Los Angeles was sold for $11,950,000. This sizable lot spans 7,276 square feet, resulting in a price per lot square foot of $1,642. Situated in the Mount Washington area, the land boasts a gentle up slope and presents a rare opportunity for developers or individuals seeking to build a view home. The utilities are conveniently located at the street.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $11,950,000
- Address: 1553 Cliff Drive
- Market: Los Angeles
The sale was facilitated by Ana Pantoja of Century 21 Realty Masters, who represented the buyer, and Endre Barath of Berkshire Hathaway HomeServices California Properties, who represented the seller. This transaction underscores the crucial role played by the real estate agents in bringing the deal to fruition.
Players
Los Angeles Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.33%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93