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Urban View Investments Acquires Mixed-Use Property In Marina Del Rey For $9.1M

Property Image
SOLD
$9,100,000

California

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Mixed-use10,085 SF
Sold 09/30/2021
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Property Image
SOLD

Urban View Investments Acquires Mixed-Use Property In Marina Del Rey For $9.1M

3016 Washington Boulevard, Marina del Rey, CA 90292, USA

See Similar Deals
Mixed-use10,085 SF
Sold 09/30/2021
Contact now

Summary

CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$902
Total Square Footage:10,085 SF
Transaction Type:Sale

3016 Washington Blvd. in Marina Del Rey has been sold in a closed transaction. The mixed-use property was purchased by Urban View Investments, represented by Arrian Torkian, for a sale price of $9,100,000. The property spans 10,085 square feet, resulting in a price per square foot of $902. The seller of the property was Geraldine Gilliland. The deal was facilitated by George Pino of Commercial Broker's International.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $9,100,000
  • Address: 3016 Washington Blvd.
  • Market: Marina Del Rey
  • Buyer: Urban View Investments - Arrian Torkian
  • Seller: Geraldine Gilliland
  • Broker: George Pino - Commercial Broker's International
  • Square Footage: 10,085 SF
  • Price per Square Foot: $902

This transaction demonstrates the active real estate market in Marina Del Rey. Arrian Torkian of Urban View Investments successfully represented his company in acquiring this mixed-use property. Geraldine Gilliland, the seller, made the decision to part ways with the property. George Pino from Commercial Broker's International played a crucial role in facilitating the deal. This sale highlights the value of mixed-use properties in Marina Del Rey's market.

Players

14 deals$18.9M volume
BROKER

Details

SOLD
IMAGE: George Pino DATE: 09/30/2021 ADDRESS: 3016 Washington Blvd. MARKET: Marina Del Rey ASSET TYPE: Mixed-use BUYER: Urban View Investments - Arrian Torkian SELLER: Geraldine Gilliland BROKER: George Pino (@GPinoCBICommercial) - Commercial Broker’s International SALE PRICE: $9,100,000 SF: 10,085 ~ PPSF: $902

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$485,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$32,330.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,138.64
Annual Debt Service$517,663.71