Bill Wang Acquires Multifamily Property In Culver City For $2.75 Million From Don Ericsson
SOLD
$2,750,000
California
See Similar DealsMultiFamily8,912 SF
Sold 01/29/2025
SOLD
Bill Wang Acquires Multifamily Property In Culver City For $2.75 Million From Don Ericsson
3873 College Avenue
See Similar DealsMultiFamily8,912 SF
Sold 01/29/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$308
Total Square Footage:8,912 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$146,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
Annual Debt Service$156,436.84
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