Bhavesh Ahir Acquires Manhattan Beach Hotel For $9.45M
SOLD
$9,450,000
California
See Similar DealsHotel13,555 SF
Sold 10/28/2022
SOLD
Bhavesh Ahir Acquires Manhattan Beach Hotel For $9.45M
233 Sepulveda Boulevard
See Similar DealsHotel13,555 SF
Sold 10/28/2022
Summary
CALIFORNIA
Asset Type:Hotel
Price Per Square Foot:$697
Total Square Footage:13,555 SF
Transaction Type:Sale
A hotel located at 233 N Sepulveda Blvd in Manhattan Beach has been sold in a recent transaction. The property, spanning 13,555 square feet, was purchased by Bhavesh Ahir for a total of $9,450,000. The sale price translates to approximately $697 per square foot.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $9,450,000
- Square Footage: 13,555
- Address: 233 N Sepulveda Blvd, Manhattan Beach
- Buyer: Bhavesh Ahir
- Seller: Carol Mcindoe
- Broker: Ryan Sharpe - Kidder Mathews
Ryan Sharpe from Kidder Mathews represented both the buyer, Bhavesh Ahir, and the seller, Carol Mcindoe, in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$504,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,573.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,797.82
Annual Debt Service$537,573.85
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