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Brandon Garr Acquires Hotel In Anaheim, CA For $21M

Property Image
SOLD
$21,000,000
Steven Schechter
Brandon Michaels
+ 2

California

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Hotel99,572 SF
Sold 10/24/2022
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Property Image
SOLD

Brandon Garr Acquires Hotel In Anaheim, CA For $21M

1650 South Harbor Boulevard

See Similar Deals
Hotel99,572 SF
Sold 10/24/2022
Steven Schechter
Brandon Michaels
+ 2
Contact now

Summary

CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$210
Total Square Footage:99,572 SF
Transaction Type:Sale

The hotel located at 1650 S Harbor Blvd in Anaheim, CA has been sold in a closed transaction. The property, with a total square footage of 99,572 and a price per square foot of $211, was acquired by Brandon Garr. The seller of the property was Andree LeCocq. The deal was facilitated by Brandon Michaels, Matthew Luchs, and Steven Schechter from Marcus & Millichap.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: $21,000,000
  • Address: 1650 S Harbor Blvd, Anaheim, CA
  • Buyer: Brandon Garr
  • Seller: Andree LeCocq
  • Brokers: Brandon Michaels, Matthew Luchs, Steven Schechter - Marcus & Millichap

This successful transaction involved Brandon Garr as the buyer and Andree LeCocq as the seller. The deal was facilitated by Brandon Michaels, Matthew Luchs, and Steven Schechter from Marcus & Millichap. The property, with a total of 115 keys, was sold for a price of $21,000,000, resulting in a price per key of $182,609.

Players

Brandon Michaels
138 deals$747.9M volume(818) 292-3175
BROKER

Steven Schechter
Marcus & Millichap
46 deals$283.6M volume
BROKER

Matthew Luchs
Zacuto Group
90 deals$494.5M volume(818) 519-1429
BROKER


2 deals$42M volume
SELLER

Details

SOLD
IMAGE: Matthew Luchs, Brandon Michaels, Steven Schechter DATE: 10/24/2022 ADDRESS: 1650 S Harbor Blvd MARKET: Anaheim, CA ASSET TYPE: Hotel BUYER: Brandon Garr SELLER: Andree LeCocq BROKERS: Brandon Michaels (@BrandonMichaelsGroup), Matthew Luchs @MatthewLuchs) & Steven Schechter (@Steven.Schechter.10) - Marcus & Millichap SALE PRICE: $21,000,000 KEYS: 115 ~ PPK: $182,609 SF: 99,572 ~ PPSF: $211

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,120,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56