Updated Dec 4, 2024
Jeff Adkison & Steven Mullins Facilitate $13.89M Sale Of Hermosa Beach Multifamily
60 15th Street
$13,887,500
$1,757/SF
Building Size
7,903 SF
Asset Type
MultiFamily
Closing
Apr 30, 2024
About this deal
AI
A 16-unit multifamily property at 60 15th Street in Hermosa Beach was sold for $13.89 million. The property is fully renovated and furnished, offering strong rental rates and extensive tenant amenities. Additionally, it features an assumable 3.08% interest-only loan maturing in 2030.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $13,887,500
- Units: 16
- Price per Unit: $867,969
- Square Footage: 7,903
- Price per Square Foot: $1,757
- Address: 60 15th Street
- Market: Hermosa Beach
Jeff Adkison from JLL represented the buyer, while Steven Mullins from Vista Sotheby's International Realty represented the seller in this transaction.
On the Map
$13,887,500
$1,757/SF
MultiFamily
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Players
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
1.14%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93