Development Site in Mid-City Sells for $1.95M
The Neema Group brokers the sale of a development site at 1905 S. Orange Dr. for $1.95M in Mid-City.
A development site in Mid-City has sold for 1.95 million, according to sources familiar with the transaction. The property, located at 1905 S. Orange Dr., spans 8,776 square feet and is priced at 239 per square foot.
The site has two units, each priced at $975,000. The buyer and seller were not disclosed.
The brokers on the deal were Neema Ahadian and Iman Mossanen of The Neema Group. The Neema Group is a boutique real estate firm specializing in commercial and residential properties in Los Angeles.
Mid-City is a neighborhood in central Los Angeles known for its diverse population and historic architecture. The area has seen a surge in development in recent years, with new residential and commercial projects popping up throughout the neighborhood.
The sale of this development site is indicative of the continued growth and demand for real estate in Mid-City. With its prime location and potential for development, the property is sure to attract interest from developers and investors alike.
Overall, the sale of this development site is a positive sign for the commercial real estate market in Mid-City and the greater Los Angeles area. As the city continues to grow and evolve, properties like this one will become increasingly valuable and sought-after.