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1051 South North Lake Drive

Chad Carroll & Isaac Malagon Of Compass Broker $3M Hollywood Development Site Sale
SOLDDevelopment Site

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:

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

Chad Carroll

Compass

Broker

$1.7B

vol

84 deals

Broker

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