Updated Feb 21, 2025
Loren Riel Sells Hermosa Beach Multifamily Property For $12.75M With Brokers Will And Rachel Joseph
60 15th St
$12,750,000
$1,613/SF
Building Size
7,903 SF
Asset Type
MultiFamily
Closing
Mar 15, 2022
About this deal
AI
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.
On the Map
$12,750,000
$1,613/SF
MultiFamily
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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
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93