Mark Ford Sells Multifamily Property At 2 2nd Street Hermosa Beach For $5.8M With Will Joseph And Patrick Panzarella As Brokers
2 2nd Street
$5,800,000
$1,469/SF
Building Size
3,948 SF
Asset Type
MultiFamily
Closing
May 5, 2026
AI
The property asset involved in the transaction is a multifamily building located at 2 2nd Street in Hermosa Beach. It consists of 4 units and covers a total square footage of 3,948. The sale price for the asset was $5,800,000, which translates to a price per unit of $1,450,000 and a price per square foot of $1,469.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,800,000
- Units: 4
- Square Footage: 3,948
- Price Per Unit: $1,450,000
- Price Per Square Foot: $1,469
- Seller: Mark Ford
- Buyer's Representative: Patrick Panzarella - Vista Sotheby's International Realty
- Seller's Representative: Will Joseph - Joseph Group
The transaction highlights the involvement of key individuals and companies. Mark Ford acted as the seller, while the buyer was represented by Patrick Panzarella from Vista Sotheby's International Realty. Will Joseph from Joseph Group represented the seller in the deal.
Players
Hermosa Beach 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
2.73%
Cash-on-Cash
-0.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93