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
SOLD
$6,300,000
+ 4
California
See Similar DealsOffice6,500 SF
Sold 12/16/2021
SOLD
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
See Similar DealsOffice6,500 SF
Sold 12/16/2021
+ 4
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$969
Total Square Footage:6,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$336,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$22,382.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$29,865.21
Annual Debt Service$358,382.57
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