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124 11th Street, Manhattan ...

Robert McConnell Acquires Mixed-Use Property In Manhattan Beach For $5.7M
SOLDMixed-use

Robert McConnell Acquires Mixed-Use Property In Manhattan Beach For $5.7M

124 11th Street, Manhattan Beach, California 90266, United States

$5,725,000

$1,443/SF

Building Size

3,966 SF

Asset Type

Mixed-use

Closing

May 31, 2022

AI

The mixed-use property located at 124 11th St. in Manhattan Beach has been sold for a transaction amount of $5,725,000. The property spans 3,966 square feet, resulting in a price per square foot of $1,443. The sale took place on 06/01/2022.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $5,725,000
  • Address: 124 11th St.
  • Market: Manhattan Beach
  • Square Footage: 3,966
  • Price per Square Foot: $1,443

The buyer of the property is Robert McConnell, while the sellers are Harry Lorick and Joyce Lorick. Keith Kelley from Palm Realty Boutique represented the buyer in the transaction. On the other hand, Sasha Rahban from SaraVita Properties Inc. acted as the seller's representative.

Players

Sasha Rahban

Douglas Elliman

Broker

$56.6M

vol

10 deals

Broker

Manhattan 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

2.77%

Cash-on-Cash

-0.79%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93