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Edward Stokx Acquires Multifamily Property From Angelo Mazzone In Playa Del Rey For $8.7M

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SOLD
$8,700,000

California

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MultiFamily9,684 SF
Sold 07/15/2024
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Property Image
SOLD

Edward Stokx Acquires Multifamily Property From Angelo Mazzone In Playa Del Rey For $8.7M

6401 Ocean Front Walk & 6405 Speedway

See Similar Deals
MultiFamily9,684 SF
Sold 07/15/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$898
Total Square Footage:9,684 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily property located at 6401-6405 Ocean Front Walk in Playa Del Rey. The sale price for this asset was $8,700,000, consisting of 4 units with a price per unit of $2,175,000. The total square footage of the property is 4,842, resulting in a price per square foot of $1,797.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,700,000
  • Units: 4
  • Price Per Unit: $2,175,000
  • Square Footage: 4,842
  • Price Per Square Foot: $1,797
  • Buyer: Edward Stokx
  • Seller: Angelo Mazzone
  • Brokers: Andrew Malekie & Coby Chatwin - Hatrick Real Estate - Link Brokerages

This transaction involved Edward Stokx as the buyer and Angelo Mazzone as the seller. The deal was facilitated by brokers Andrew Malekie and Coby Chatwin, who represent Hatrick Real Estate under Link Brokerages.

Players

Andrew Malekie
1 deal$8.7M volume(713) 294-5215
BROKER

Coby Chatwin
Link Brokerages
2 deals$10.1M volume(310) 743-3908
BROKER

Details

SOLD
IMAGE: Andrew Malekie & Coby Chatwin DATE: 07/15/2024 ADDRESS: 6401-6405 Ocean Front Walk MARKET: Playa Del Rey ASSET TYPE: Multifamily BUYER: Edward Stokx SELLER: Angelo Mazzone BROKERS: Andrew Malekie & Coby Chatwin - Hatrick Real Estate (@HatrickRE) - Link Brokerages (@LinkBrokerages) SALE PRICE: $8,700,000 UNITS: 4 ~ PPU: $2,175,000 SF: 4,842 ~ PPSF: $1,797

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$30,909.27
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