Updated Dec 20, 2023
Marcus & Millichap Sells Development Site On Empire Dr. For $3.2M
3648 Empire Dr, Los Angeles, CA 90034, USA
$3,200,000
$29/SF
Building Size
109,480 SF
Asset Type
Mixed-use
Closing
Sep 29, 2020
About this deal
AI
The property located at 3648-3652 Empire Dr. has recently been sold for a total transaction amount of $3,200,000. This asset is a combination of multifamily and single-family homes, and it also serves as a development site. The property spans a total square footage of 10,948, resulting in a price per square foot of $292.
Summary of transation details
- Property Type: Multifamily & Single Family Home – Development Site
- Transaction Amount: $3,200,000
- Square Footage: 10,948
- Price per Square Foot: $292
- Address: 3648-3652 Empire Dr.
The transaction was facilitated by Neema Ahadian and Iman Mossanen from Marcus & Millichap. They represented the parties involved in the deal as brokers. Neema Ahadian & Iman Mossanen are part of The Neema Group.
Players
Los Angeles Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.96%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93