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1257 11th St, Manhattan Bea...

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

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

1257 11th St, Manhattan Beach, CA, USA

$1,970,000

$658/SF

Building Size

2,993 SF

Asset Type

Single Family Residence

Closing

Jul 23, 2020

AI

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

Madison Residential Realty

Broker

$105.4M

vol

8 deals

Broker

Manhattan Beach Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.05%

Cash-on-Cash

-2.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93