Wilfred G. Idsten Acquires Miracle Mile Multifamily In $2.45M Deal
SOLD
$2,450,000
California
See Similar DealsMultiFamily4,429 SF
Sold 07/08/2022
SOLD
Wilfred G. Idsten Acquires Miracle Mile Multifamily In $2.45M Deal
741 South Detroit Street, Los Angeles, California 90036, United States
See Similar DealsMultiFamily4,429 SF
Sold 07/08/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$553
Total Square Footage:4,429 SF
Transaction Type:Sale
The multifamily property located at 741 S. Detroit St. in Miracle Mile has been sold in a recent transaction. The sale was facilitated by brokers Sam Liberow of The Liberow Group and Max Gersht of Marcus & Millichap.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,450,000
- Address: 741 S. Detroit St.
- Market: Miracle Mile
The buyer in this transaction is Wilfred G. Idsten, while the seller is Michael Cianfrani. The property consists of 4 units with a total area of 4,429 square feet. The sale price per unit is $612,500, and the price per square foot is $553.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$130,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,704.33
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,614.25
Annual Debt Service$139,371.00
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