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Daniel Damico & Joshua Altman Buy Marina Del Rey Multifamily For $2.075M As Buyer's Rep
SOLD
California
See Similar DealsMultiFamily2,208 SF
Sold 04/18/2024
SOLD
Daniel Damico & Joshua Altman Buy Marina Del Rey Multifamily For $2.075M As Buyer's Rep
116 Driftwood Street
See Similar DealsMultiFamily2,208 SF
Sold 04/18/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$939
Total Square Footage:2,208 SF
Transaction Type:Sale
In Marina del Rey, a multifamily property located at 116 Driftwood Street was sold for $2,075,000. The property spans 2,208 square feet and was purchased at a price per square foot of $940.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,075,000
- Address: 116 Driftwood Street
- Market: Marina del Rey
The buyer, represented by Daniel Damico and Joshua Altman of Douglas Elliman, acquired the property, while John Capiro from Re/Max Estate Properties handled the sale on behalf of the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$110,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,372.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,836.56
Annual Debt Service$118,038.70
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