Updated Sep 9, 2024
Steven Kohrman Acquires Development Site In Boyle Heights For $1.7M
3253-3261 E Cesar E Chavez Avenue
$1,768,000
$255/SF
Building Size
6,919 SF
Asset Type
Development Site
Closing
Mar 7, 2023
About this deal
AI
The development site located at 3253-3261 E Cesar E Chavez Avenue in Boyle Heights has been sold in a recent transaction. The property spans across 6,919 square feet and was sold for a price of $1,768,000, resulting in a price per square foot of $256. The development site has a land square footage of 13,114, with a price per land square foot of $135.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $1,768,000
- Address: 3253-3261 E Cesar E Chavez Avenue, Boyle Heights
- Market: Boyle Heights
- Square Footage: 6,919
- Price per Square Foot: $256
- Land Square Footage: 13,114
- Price per Land Square Foot: $135
The transaction was facilitated by Daniel Hirth & Alex Reyhan from The Hirth Group, who represented the buyer, Steven Kohrman, and the seller, Thomas Hoverman.
Players
Market 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
8.97%
Cash-on-Cash
-2.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93