Loren Riel Purchases Hermosa Beach Multifamily Property For $7.855M With Joseph Group Representation
SOLD
$7,855,000
California
See Similar DealsMultiFamily7,903 SF
Sold 07/24/2019
SOLD
Loren Riel Purchases Hermosa Beach Multifamily Property For $7.855M With Joseph Group Representation
60 15th Street
See Similar DealsMultiFamily7,903 SF
Sold 07/24/2019
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$993
Total Square Footage:7,903 SF
Lot Square Footage:8572 SF
Transaction Type:Sale
The property involved in this transaction is a multifamily asset located at 60 15th Street, Hermosa Beach. The transaction was finalized for a total price of $7,855,000.00 and encompasses a total area of 7,903 square feet.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $7,855,000.00
- Address: 60 15th Street
- Market: Hermosa Beach
- Square Footage: 7,903.0
- Buyer: Loren Riel
- Brokers: Will Joseph (Joseph Group), Rachel Joseph (Joseph Group)
Will Joseph and Rachel Joseph, both from Joseph Group, represented the transaction in their brokerage capacity for both parties involved in the deal, facilitating the sale of the multifamily property.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$418,933.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,907.17
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,236.71
Annual Debt Service$446,840.49
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