SOLD
Michael Elkin Acquires Multifamily Property In Redondo Beach For $1.98M
2408 Mathews Avenue
MultiFamily
3,500 SF
3,500 SF
Sold 1 year ago
Summary
Sale
CALIFORNIA
MultiFamily
3,500 sqft
Ana Sporrong, John Katnik, Mike Hanassab, and Elliot Hassan represented both the buyer and the seller in the sale of a multifamily property located at 2408 Mathews Ave in Redondo Beach. The property was on the market for less than 10 days and sold for a price of $1,985,000. It offers a total of 3,500 square feet of space, resulting in a price per square foot of $567.14. The deal closed with a capitalization rate of 3.7%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,985,000
- Address: 2408 Mathews Ave, Redondo Beach
- Market: Redondo Beach
- Square Footage: 3,500
- Price Per Square Foot: $567.14
- Capitalization Rate: 3.7%
In this transaction, Michael Elkin purchased the property from Paul Isley. The buyer, Elkin, was able to negotiate no loan or appraisal contingency. The seller, Isley, utilized a 1031 Exchange to increase his cash flow by over 100%. The deal was facilitated by Ana Sporrong, John Katnik, Mike Hanassab, and Elliot Hassan.
Players
All
6
Agents
4
Agencies
2
Details
SOLD
IMAGE: Anna Sporrong, John Katnik, Mike Hanassab & Elliot Hassan
DATE: 03/24/2020
ADDRESS: 2408 Mathews Ave
MARKET: Redondo Beach
ASSET TYPE: Multifamily
PRICE: $1,985,000
SF: 3,500
PPSF: $567.14.14
CAP: 3.7%
BUYER: Michael Elkin
SELLER: Paul Isley
BROKERS: Anna Sporrong, John Katnik, Mike Hanassab & Elliot Hassan
NOTES: On the Market for Less Than 10 Days, Overcame Deferred Maintenance Objections While in Escrow, Negotiated No Loan or Appraisal Contingency for Buyer, Seller Is Utilizing 1031 Exchange to Increase Cash Flow by Over 100%.View on map
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Address2408 Mathews Avenue
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