facebook
Traded Co logo
Submit
Daily limit: 0/10

Jeff Adkison & Steven Mullins Facilitate $13.89M Sale Of Hermosa Beach Multifamily

Property Image
SOLD
$13,887,500
Steven Mullins
Jeff Adkison

California

See Similar Deals
MultiFamily7,903 SF
Sold 04/30/2024
the dealplayerscompscontact
Property Image
SOLD

Jeff Adkison & Steven Mullins Facilitate $13.89M Sale Of Hermosa Beach Multifamily

60 15th Street

See Similar Deals
MultiFamily7,903 SF
Sold 04/30/2024
Steven Mullins
Jeff Adkison
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,757
Total Square Footage:7,903 SF
Transaction Type:Sale

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.

Players

Steven Mullins
Sotheby's International Realty
Steven Mullins
1 deal$13.9M volume(310) 901-4687
BROKER
Jeff Adkison
JLL
Jeff Adkison
2 deals$34M volume(213) 239-6133
BROKER

Details

SOLD
IMAGE: Jeff Adkison & Steven Mullins DATE: 04/30/2024 ADDRESS: 60 15th Street MARKET: Hermosa Beach ASSET TYPE: MultiFamily BUYER'S REP: Jeff Adkison - JLL (@JLL) SELLER'S REP: Steven Mullins (@StevenMullinsRealEstate) - Vista Sotheby's International Realty (@Vista_SIR) SALE PRICE: $13,887,500 UNITS: 16 ~ PPU: $867,969 SF: 7,903 ~ PPSF: $1,757 NOTE: A 16-unit multifamily property at 60 15th Street in Hermosa Beach sold for $13.89 million. Fully renovated and furnished, the property features strong rental rates, extensive tenant amenities, and an assumable 3.08% interest-only loan maturing in 2030.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$740,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$49,339.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,833.84
Annual Debt Service$790,006.02