Updated Feb 21, 2025
Loren Riel Purchases Hermosa Beach Multifamily Property For $7.855M With Joseph Group Representation
60 15th Street
$7,855,000
$993/SF
Building Size
7,903 SF
Asset Type
MultiFamily
Closing
Jul 24, 2019
About this deal
AI
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.
On the Map
$7,855,000
$993/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
2.02%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93