Updated Dec 20, 2023
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
About this deal
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.
On the Map
$2,000,000
$282/SF
Development Site
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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