Updated Dec 21, 2023
Wilfred G. Idsten Acquires Miracle Mile Multifamily In $2.45M Deal
741 South Detroit Street, Los Angeles, California 90036, United States
$2,450,000
$553/SF
Building Size
4,429 SF
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
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.
On the Map
$2,450,000
$553/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.47%
Cash-on-Cash
-1.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93