Dax Mitchell Acquires Industrial Property On E. 21st St. In Long Beach For $1.1M
1028 East 21st Street
$1,100,000
$273/SF
Building Size
4,030 SF
Asset Type
Industrial
Closing
Aug 1, 2022
AI
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.
Players
Los Angeles Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93