Updated Oct 29, 2024
Novin Development Corp. Acquires Land In Redwood City For $3.9M
3051 Edison Way, Redwood City, California 94063, United States
$3,900,000
Building Size
—
Asset Type
Land
Closing
Dec 19, 2022
About this deal
AI
The land located at 3051 Edison Way in Redwood City has recently been sold for a price of $3,900,000. The transaction took place on December 19, 2022. The property is owned by Ronald Grove and was purchased by Novin Development Corp., represented by Iman Novin.
Summary of transation details
- Property Type: Land
- Transaction Amount: $3,900,000
- Address: 3051 Edison Way, Redwood City
- Market: Redwood City
Iman Novin, representing Novin Development Corp., facilitated the purchase of this land from Ronald Grove. No additional information regarding the property or the transaction is available.
On the Map
$3,900,000
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.07%
Cash-on-Cash
-1.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93