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The Cardell Family Acquires SFR In Manhattan Beach For $1.97M

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SOLD
$1,970,000

California

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Single Family Residence2,993 SF
Sold 07/23/2020
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Property Image
SOLD

The Cardell Family Acquires SFR In Manhattan Beach For $1.97M

1257 11th St, Manhattan Beach, CA, USA

See Similar Deals
Single Family Residence2,993 SF
Sold 07/23/2020
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Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$658
Total Square Footage:2,993 SF
Transaction Type:Sale

The recent sale of a single-family residential (SFR) property in Manhattan Beach has generated significant interest in the real estate market. The property, located at 1257 11th St., offers a spacious living area of approximately 2,993 square feet. This charming home attracted the attention of potential buyers due to its prime location in the highly sought-after Manhattan Beach market. Brian Lane of Madison Residential represented the seller in this transaction, ensuring a smooth process for both parties involved.

Summary of transaction details:

  • Property Type: SFR
  • Transaction Amount: $1,970,000
  • Asking Price: $1,900,000
  • Square Footage: 2,993
  • Price per Square Foot: $658
  • Market: Manhattan Beach

The buyer of this property is The Cardell Family, who recognized the value and potential of this charming SFR home. Led by Brian Lane from Madison Residential, The Cardell Family made a successful offer of $1,970,000, surpassing the initial asking price. The transaction was finalized on July 23, 2021, marking another successful deal in the Manhattan Beach market.

Players

Brian Lane
8 deals$105.4M volume
BROKER

Details

SOLD
IMAGE: Brian Lane DATE: 07/23/2021 ADDRESS: 1257 11th St. MARKET: Manhattan Beach ASSET TYPE: SFR BUYER: The Cardell Family BROKER: Brian Lane (@BrianLane.RE) - Madison Residential ASKING PRICE: $1,900,000 SALE PRICE: $1,970,000 SF: 2,993 ~ PPSF: $658

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$105,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,998.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,338.81
Annual Debt Service$112,065.66