Updated Dec 21, 2023
Dinesh Patel Sells Hotel In Redondo Beach For $6.3M With Broker Vinnie Park
716 S Pacific Coast Hwy, Redondo Beach, California 90277, United States
$6,300,000
$1,054/SF
Building Size
5,976 SF
Asset Type
Hotel
Closing
Jun 7, 2022
About this deal
AI
A hotel property located at 716 S. Pacific Coast Hwy in Redondo Beach has been sold. The property spans 5,976 square feet and was sold for a price of $6,300,000, translating to a price per square foot of $1,054. The transaction took place on 06/08/2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $6,300,000
- Address: 716 S. Pacific Coast Hwy, Redondo Beach
- Square Footage: 5,976
- Price per Square Foot: $1,054
- Keys: 21
- Price per Key: $300,000
Dinesh Patel served as the seller in this transaction, while the buyer was represented by Vinnie Park from Coldwell Banker. The property was listed by Vinnie Park, also from Coldwell Banker.
On the Map
$6,300,000
$1,054/SF
Hotel
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Players
Redondo 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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93