Redcar Ltd Acquires Office In Santa Monica For $6.3M With Buyer's Rep Jim Jacobsen And Seller's Rep George Wilson, David Wilson & Brad McCoy
1655 Euclid Street, Santa Monica, CA 90404
$6,300,000
$969/SF
Building Size
6,500 SF
Asset Type
Office
Closing
Dec 16, 2021
AI
Located at 1655 Euclid Street in Santa Monica, this office property was recently sold in a transaction on December 16, 2021. The asset spans 6,500 square feet and is situated in the Santa Monica market. The sale price for this property was $6,300,000, resulting in a price per square foot of $969.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $6,300,000
- Address: 1655 Euclid Street
- Market: Santa Monica
The buyer of this office property was Redcar Ltd, represented by Jim Jacobsen. On the other hand, the seller was David Zander. Redcar Ltd was guided by Scott Rigsby and Richard Maloof from Industry Partners as their representatives in the deal. David Zander was represented by George Wilson, David Wilson, and Brad McCoy from Lee & Associates West LA Inc. in the transaction.
Please refer to the provided Instagram link for a visual representation of the property and the individuals involved in the sale.
Players
Santa Monica Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93