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3873 College Avenue

Updated Jan 31, 2025

Bill Wang Acquires Multifamily Property In Culver City For $2.75 Million From Don Ericsson
SOLDMultiFamily

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.

Players

Chandler Rockwell

The Rockwell Group

Broker

$109.3M

vol

21 deals

Broker

Culver City MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $308 per square foot on a published $2.8M for 8,912 square feet (2025).

Visit Chandler Rockwell to view all their deals.

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

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