Updated Oct 29, 2024
Ecology Mountain Holdings Acquires 10,000-Acre Land In Eagle Mountain For $22.6M
California
$22,580,000
Building Size
—
Asset Type
Land
Closing
May 23, 2023
About this deal
AI
California's Eagle Mountain, a former bustling iron mine turned ghost town, has been sold to a mysterious buyer for nearly $22.6 million. The 10,000-acre land near Joshua Tree National Park has been acquired by Ecology Mountain Holdings. The seller in this transaction is Eagle Mountain Acquisitions.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $22,580,000
- Acres: 10,000
- Address: Eagle Mountain
- Market: California
The buyer, Ecology Mountain Holdings, has plans for the 10,000-acre site, although the specifics remain unknown. Conservationists argue that the land should have been returned to the national park after mining operations ceased in 1983. However, the intentions of the buyer are undisclosed at this time.
Players
Los Angeles Land Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93