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
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