SOLD
Dan Daneshrad Acquires Development Site In Los Angeles For $2.15M
1541 South Hayworth Avenue
Development Site
12,454 SF
12,454 SF
Sold 1 year ago
Summary
Sale
CALIFORNIA
Development Site
12,454 sqft
A development site located at 1541 S. Hayworth Ave. in the Fairfax Heights neighborhood of Los Angeles has been sold for a price of $2,150,000. The buyer of the property is Dan Daneshrad, while the seller is Gregory Preer. The transaction was facilitated by brokers Filip Niculete and Glen Scher from Marcus & Millichap's LAAA Team.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $2,150,000
- Address: 1541 S. Hayworth Ave., Los Angeles
The development site, which spans over 12,454 square feet, is entitled for a 10-unit project. The transaction was an all-cash deal and closed swiftly. Both the buyer and seller were engaged in a 1031 exchange, indicating the use of proceeds from the sale towards the acquisition of another property while deferring capital gains taxes.
Note from the broker: The property's location in the desirable Fairfax Heights adds to its appeal as a potential development opportunity.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Glen Scher & Filip Niculete
DATE: 03/11/2022
ADDRESS: 1541 S. Hayworth Ave.
MARKET: Los Angeles
ASSET TYPE: Development Site
BUYER: Dan Daneshrad
SELLER: Gregory Preer
BROKERS: Filip Niculete (@FNiculete) & Glen Scher (@ScherGlen) (LAAA Team) (@LAAATeam) - Marcus & Millichap
SALE PRICE: $2,150,000
BSF: 12,454 ~ PPBSF: $172
NOTE FROM BROKER: Entitled 10 Unit Development Site
Good Fairfax Heights Location
All Cash and Quick Close
1031 Exchange Buyer and SellerView on map
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Address1541 South Hayworth Avenue
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