M West Holdings Sells Multifamily Property On S. Virgil Ave. For $90M With Broker Marc Renard
SOLD
$90,000,000
California
See Similar DealsMultiFamily266,845 SF
Sold 12/13/2018
SOLD
M West Holdings Sells Multifamily Property On S. Virgil Ave. For $90M With Broker Marc Renard
160 South Virgil Avenue, Los Angeles, CA 90004, USA
See Similar DealsMultiFamily266,845 SF
Sold 12/13/2018
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$337
Total Square Footage:266,845 SF
Transaction Type:Sale
The multifamily property located at 136-160 S. Virgil Ave. has been sold for $90 million. The property spans over 266,845 square feet and has a price per square foot of $337. It consists of 302 units, making it a notable investment opportunity in the market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $90M
- Square Footage: 266,845
- Price per Square Foot: $337
- Number of Units: 302
The seller of the property was M West Holdings. The transaction was facilitated by Marc Renard from CushWake, representing the seller's interests. The involvement of experienced professionals like Marc Renard showcases the expertise and knowledge that went into the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,800,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$319,750.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$426,645.92
Annual Debt Service$5,119,750.99
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