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1028 East 21st Street

Dax Mitchell Acquires Industrial Property On E. 21st St. In Long Beach For $1.1M
SOLDIndustrial

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

Blas Fernandez

IKON Properties

Broker

$88.5M

vol

33 deals

Broker
Keller Williams Realty
Keller Williams RealtyBrokerage
Dax Mitchell

Dax Mitchell

MAG Capital Partners

Buyer

$1.1M

vol

3 deals

Buyer

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