Updated Oct 29, 2024
LaTerra Developments Acquires Property From David Casselman At 4850 Hollywood BLVD For $10.4M
4850 Hollywood BLVD, Los Angeles, C...
$10,400,000
$650/SF
Building Size
16,000 SF
Asset Type
Retail
Closing
May 12, 2017
About this deal
AI
The property involved in this transaction is a retail strip with a total square footage of 16,000 located at 4850 Hollywood Boulevard, Los Angeles. It was sold for a total price of $10,400,000. The asset occupies a 0.9-acre site and is situated in the Los Angeles market.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $10,400,000
- Address: 4850 Hollywood Boulevard, Los Angeles
- Square Footage: 16,000
- Seller: David Casselman
- Buyer: LaTerra Developments
- Seller's Representative: Chris Comfort of Apex Realty
- Buyer's Representative: Oron Maher of BRC Advisors
LaTerra Developments acquired the property for development purposes, potentially planning a mixed-use project on the site. The property currently has 11 tenants and is expected to be razed for the new development.
On the Map
$10,400,000
$650/SF
Retail
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Players
Los Angeles Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.53%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93