Dax Mitchell Acquires Industrial Property On E. 21st St. In Long Beach For $1.1M
SOLD
$1,100,000
California
See Similar DealsIndustrial4,030 SF
Sold 08/01/2022
SOLD
Dax Mitchell Acquires Industrial Property On E. 21st St. In Long Beach For $1.1M
1028 East 21st Street
See Similar DealsIndustrial4,030 SF
Sold 08/01/2022
Summary
CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$273
Total Square Footage:4,030 SF
Transaction Type:Sale
Blas Property Group, represented by broker Blas Fernandez, facilitated the sale of an industrial property in Long Beach. The property, located at 1028 E. 21st St., was sold by Mark Valdes to Dax Mitchell for a total price of $1,100,000. The industrial asset spans 4,030 square feet, resulting in a price per square foot of $272.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $1,100,000
- Square Feet: 4,030
- Price per Square Foot: $272
- Address: 1028 E. 21st St., Long Beach
- Market: Long Beach
Blas Property Group, with Blas Fernandez as their representative, facilitated the transaction between seller Mark Valdes and buyer Dax Mitchell. The sale of this industrial property showcases the ongoing activity in the Long Beach market and marks another successful transaction for Blas Property Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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