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2 2nd Street

Mark Ford Sells Multifamily Property At 2 2nd Street Hermosa Beach For $5.8M With Will Joseph And Patrick Panzarella As Brokers
SOLDMultiFamily

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

Will Joseph

Joseph Group

Broker

$53M

vol

9 deals

Broker

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