Lonnie McDermott Of CDermott.Group Acquires Development Site On N Virgil Ave, Los Angeles For $2M
SOLD
$2,000,000
California
See Similar DealsDevelopment Site7,091 SF
Sold 12/29/2020
SOLD
Lonnie McDermott Of CDermott.Group Acquires Development Site On N Virgil Ave, Los Angeles For $2M
657 North Virgil Avenue, Los Angeles, CA, USA
See Similar DealsDevelopment Site7,091 SF
Sold 12/29/2020
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$282
Total Square Footage:7,091 SF
Transaction Type:Sale
A development site located at 657 N Virgil Ave in Los Angeles has been sold for a price of $2,000,000. The property spans a total square footage of 7,091, resulting in a price per square foot of $282.
Summary of transaction details
- Property Type: Development site
- Transaction Amount: $2,000,000
- Address: 657 N Virgil Ave, Los Angeles
- Market: Los Angeles
- BSF (Building Square Footage): 7,091
- Price per Square Foot (PPBSF): $282
The buyer in this transaction was Lonnie McDermott represented by Lonnie McDermott from cDermott.Group. Floyd Shaheen from loydGroupCre acted as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$106,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
Annual Debt Service$113,772.24
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