Chez Ray LLC Purchases Mixed-Use Property In Hermosa Beach For $6.48 Million
1220 Hermosa Avenue
$6,480,000
$817/SF
Building Size
7,930 SF
Asset Type
Mixed-use
Closing
Sep 17, 2024
AI
A mixed-use property was sold at 1220 Hermosa Avenue in Hermosa Beach for $6,480,000. This property comprises 7,930 square feet and features a ground-floor restaurant alongside residential units.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,480,000
- Square Footage: 7,930
- Price per Square Foot: $817
- Buyer: Chez Ray LLC
- Seller: Laura Arnold & Janice Shukovsky - Sylvia L. Arnold Revocable Trust
- Buyer's Representative: Richard Rizika - Beta Agency
- Seller's Representative: Simon Mattox - Kidder Mathews
The transaction involved Richard Rizika of Beta Agency representing the buyer and Simon Mattox of Kidder Mathews representing the seller, facilitating the sale of the property that combines commercial and residential elements.
Players
Hermosa Beach Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.45%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93