Updated Oct 29, 2024
Mark Farzan And Aaron Farzan Acquire Santa Monica Development Site For $4.2M
2307 Lincoln Boulevard
$4,200,000
Building Size
—
Asset Type
Development Site
Closing
Dec 8, 2022
About this deal
AI
A development site located at 2307 Lincoln Boulevard in Santa Monica has been sold for a price of $4,200,000. The property is situated in a prime location in Santa Monica's market.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,200,000
- Address: 2307 Lincoln Boulevard, Santa Monica
Mark Farzan and Aaron Farzan have purchased the property from BLT Enterprises, represented by Rob Solomon. The deal was facilitated by Brad McCoy, George Wilson, and David (Dave) Wilson from Lee & Associates.
On the Map
$4,200,000
Development Site
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Players
Elizabeth 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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93