Lonnie McDermott Of CDermott.Group Acquires Development Site On N Virgil Ave, Los Angeles For $2M
657 North Virgil Avenue, Los Angeles, CA, USA
$2,000,000
$282/SF
Building Size
7,091 SF
Asset Type
Development Site
Closing
Dec 28, 2020
AI
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.
Players
Los Angeles 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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93