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116 Driftwood Street

Daniel Damico & Joshua Altman Buy Marina Del Rey Multifamily For $2.075M As Buyer's Rep
SOLDMultiFamily

Daniel Damico & Joshua Altman Buy Marina Del Rey Multifamily For $2.075M As Buyer's Rep

116 Driftwood Street

$2,075,000

$939/SF

Building Size

2,208 SF

Asset Type

MultiFamily

Closing

Apr 18, 2024

AI

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.

Players

Joshua Altman

Douglas Elliman

Broker

$577M

vol

42 deals

Broker

Marina Del Rey MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.64%

Cash-on-Cash

-2.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93