Bernadette Cruz Moxey Acquires Santa Monica Office Building For $6.5M
SOLD
$6,500,000
+ 1
California
See Similar DealsOffice5,000 SF
Sold
SOLD
Bernadette Cruz Moxey Acquires Santa Monica Office Building For $6.5M
1656 9th Street, Santa Monica, California 90404, United States
See Similar DealsOffice5,000 SF
Sold
+ 1
Summary
CALIFORNIA
Asset Type:Office
Price Per Square Foot:$1300
Total Square Footage:5000 SF
Transaction Type:Sale
The office property located at 1656 9th Street in Santa Monica has been sold for a price of $6,500,000. The property spans across 4,052 square feet, resulting in a price per square foot of $1,604. The transaction took place on February 4, 2022.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $6,500,000
- Address: 1656 9th Street, Santa Monica
- Market: Santa Monica
- Buyer: Bernadette Cruz Moxey
- Seller: Bonnie Goldfarb & Baker Smith
- Buyer's Representative: Darren Casamassima - Lee & Associates
- Seller's Representatives: George Wilson, Brad McCoy, and David Wilson - Lee & Associates West LA
George Wilson, Brad McCoy, and David Wilson from Lee & Associates West LA represented the sellers in the deal. The buyers were represented by Darren Casamassima from Lee & Associates. This transaction marks the sale of the office property in Santa Monica, with a purchase price of $6,500,000.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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