Updated Jan 31, 2025
Bill Wang Acquires Multifamily Property In Culver City For $2.75 Million From Don Ericsson
3873 College Avenue
$2,750,000
$308/SF
Building Size
8,912 SF
Asset Type
MultiFamily
Closing
Jan 29, 2025
About this deal
AI
The transaction involves a multifamily asset located at 3873 College Avenue in the Culver City market. The property was sold for $2,750,000, consisting of 8 units with a price per unit of $343,750. The total square footage of the property is 8,912, resulting in a price per square foot of $308.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,750,000
- Units: 8
- Price Per Unit: $343,750
- Square Footage: 8,912
- Price Per Square Foot: $308
- Buyer: Bill Wang
- Seller: Don Ericsson
- Seller's Representative: Chandler Rockwell - The Rockwell Group
The individuals involved in the transaction include Bill Wang as the buyer and Don Ericsson as the seller. Chandler Rockwell from The Rockwell Group represented the seller in this deal.
Culver City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93