Updated Sep 5, 2024
Richard Kim Acquires Mixed-Use Property In Malibu For $3.25M With Marcus & Millichap As Brokers
28925 Pacific Coast Hwy Malibu, CA 90265, USA
$3,250,000
$408/SF
Building Size
7,953 SF
Asset Type
Mixed-use
Closing
Jul 6, 2023
About this deal
AI
The mixed-use property located at 28925 Pacific Coast Highway in Malibu has been sold for $3,250,000. The property spans over 7,953 square feet, resulting in a price per square foot of $409.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $3,250,000
- Address: 28925 Pacific Coast Highway, Malibu
- Market: Malibu
The buyer of this property is Richard Kim, while Karl Reinecker acted as the seller. The transaction was facilitated by Marcus & Millichap, with Brandon Michaels, Matthew Luchs, Steven Schechter, and Brett Sanson serving as the brokers.
Players
Market 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
4.88%
Cash-on-Cash
-1.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93