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R2 Westlake Development LLC Sells SFR In Westlake Village To Unnamed Buyer For $54M

Property Image
SOLD
$54,000,000
Ron Sentchuk
Jordan Cohen

California

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Single Family Residence60,789 SF
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R2 Westlake Development LLC Sells SFR In Westlake Village To Unnamed Buyer For $54M

2000 Upper Ranch Rd, Westlake Village, CA, USA

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Single Family Residence60,789 SF
Sold
Ron Sentchuk
Jordan Cohen
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$888
Total Square Footage:60789 SF
Transaction Type:Sale

The sale of a single-family residence took place at 2000 Upper Ranch Rd in Westlake Village. The property was sold for a staggering price of $54,000,000, setting new records for price per square foot in Westlake Village and Ventura County. The transaction occurred on July 16, 2021.

Summary of transaction details

  • Property Type: SFR
  • Transaction Amount: $54,000,000
  • Address: 2000 Upper Ranch Rd
  • Market: Westlake Village

The seller in this deal was Ron Sentchuk, representing R2 Westlake Development LLC. The brokerage services were provided by Jordan Cohen.

It's worth noting that the sale of the property occurred in multiple phases. The first phase, consisting of 30,547 square feet, is already sold out, as well as the second phase, comprising 30,242 square feet. The sale shattered price per square foot records in both Westlake Village and Ventura County. The third phase of this development is set to be announced in the near future.

Players

Jordan Cohen
Re/Max
Jordan Cohen
15 deals$154.1M volume
BROKER
Ron Sentchuk
Ron Sentchuk
16 deals$143.7M volume
BROKER

Details

SOLD
IMAGE: Ron Sentchuk & Jordan Cohen DATE: 07/16/2021 ADDRESS: 2000 Upper Ranch Rd. MARKET: Westlake Village ASSET TYPE: SFR SELLER: Ron Sentchuk - R2 Westlake Development LLC BROKER: Jordan Cohen SALE PRICE: $54,000,000 NOTE: “Phase 1 – 30,547 square feet SOLD OUT, Phase 2 – 30,242 square feet SOLD OUT - shattering Price per square foot records for Westlake Village and Ventura County. PHASE 3… COMING SOON!

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,880,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59