Chad Carroll & Isaac Malagon Of Compass Broker $3M Hollywood Development Site Sale
1051 South North Lake Drive
$3,000,000
Building Size
—
Asset Type
Development Site
Closing
Apr 29, 2024
AI
The property involved in this transaction is a Development Site located at 1051 South North Lake Drive in Hollywood. The sale price for this property was $3,000,000, with a total square footage of 23,217 and a price per square foot of $129.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,000,000
- Address: 1051 South North Lake Drive
- Market: Hollywood
- Seller: Erich Veitenheimer & Andrew Cariaso
- Brokers: Chad Carroll & Isaac Malagon - Compass
Isaac Malagon and Chad Carroll from Compass represented the seller, Erich Veitenheimer & Andrew Cariaso, in this transaction. While the sale price was set at $3,000,000, the property covers a total of 23,217 square feet, equating to a price per square foot of $129.
Players
Hollywood Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93