Robert McConnell Acquires Mixed-Use Property In Manhattan Beach For $5.7M
SOLD
$5,725,000
California
See Similar DealsMixed-use3,966 SF
Sold 06/01/2022
SOLD
Robert McConnell Acquires Mixed-Use Property In Manhattan Beach For $5.7M
124 11th Street, Manhattan Beach, California 90266, United States
See Similar DealsMixed-use3,966 SF
Sold 06/01/2022
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$1,443
Total Square Footage:3,966 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$305,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,339.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,139.42
Annual Debt Service$325,673.05
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