FloydGroupCRE Acquires Mixed-Use Property In Manhattan Beach For $3.5M
SOLD
$3,500,000
+ 2
California
See Similar DealsMixed-use3,221 SF
Sold 07/23/2020
SOLD
FloydGroupCRE Acquires Mixed-Use Property In Manhattan Beach For $3.5M
230 40th St, Manhattan Beach, CA 90266, USA
See Similar DealsMixed-use3,221 SF
Sold 07/23/2020
+ 2
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$1,086
Total Square Footage:3,221 SF
Transaction Type:Sale
A mixed-use property located at 230 40th St in Manhattan Beach has been sold for $3,500,000. The property spans 3,221 square feet with a price per square foot of $1,086.62. It consists of 5 units, resulting in a price per unit of $700,000.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $3,500,000
- Square Footage: 3,221
- Price per Square Foot: $1,086.62
- Units: 5
- Price per Unit: $700,000
The sale of this property was an all-cash transaction with a 30-day closing period. The deal was facilitated by the following brokers: Floyd Shaheen and Emily Shikhvarger from FloydGroupCRE, as well as Aida Memary, Glen Scher, and Filip Niculete from LAAATeam.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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