Loren Riel Sells Hermosa Beach Multifamily Property For $12.75M With Brokers Will And Rachel Joseph
SOLD
$12,750,000
California
See Similar DealsMultiFamily7,903 SF
Sold 03/15/2022
SOLD
Loren Riel Sells Hermosa Beach Multifamily Property For $12.75M With Brokers Will And Rachel Joseph
60 15th St
See Similar DealsMultiFamily7,903 SF
Sold 03/15/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,613
Total Square Footage:7,903 SF
Lot Square Footage:8573 SF
Transaction Type:Sale
The property asset involved in this transaction is a MultiFamily unit located at 60 15th St in the Hermosa Beach market. It has a total square footage of 7,903 and was sold for $12,750,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $12,750,000.00
- Address: 60 15th St
- Market: Hermosa Beach
- Square Footage: 7,903
- Seller: Loren Riel
- Brokers: Will Joseph (Joseph Group), Rachel Joseph (Joseph Group)
The deal featured Loren Riel as the seller, with representation from brokers Will Joseph and Rachel Joseph from the Joseph Group, facilitating the transaction in the Hermosa Beach market.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$679,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$45,298.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$60,441.50
Annual Debt Service$725,298.06
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