Alex Lindvest Sells Development Site In Corona For $3.4M With Ripco Brokers
112-45 Roosevelt Avenue & 39-16 114th Street
$3,400,000
Building Size
—
Asset Type
Development Site
Closing
Jun 27, 2024
AI
The development site located at 112-45 Roosevelt Avenue & 39-16 114th Street in Corona was sold for $3,400,000. The property spans 14,377 square feet, resulting in a price per buildable square foot of $236.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,400,000
- Market: Corona
- Seller: Alex Lindvest
- Brokers: Stephen R. Preuss Sr., Kevin Louie & Eric Delafraz - Ripco
The deal was facilitated by brokers Stephen R. Preuss Sr., Kevin Louie, and Eric Delafraz from Ripco, representing the seller, Alex Lindvest. The transaction took place on June 27, 2024, involving a notable development site in the Corona market.
Players
Corona 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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93