Bhavesh Ahir Acquires Manhattan Beach Hotel For $9.45M
233 Sepulveda Boulevard
$9,450,000
$697/SF
Building Size
13,555 SF
Asset Type
Hotel
Closing
Oct 28, 2022
AI
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.
Players
Manhattan Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.68%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93