Updated Oct 29, 2024
Mike Patterson Acquires Santa Monica SFR From Melissa Rivers For $15.5M
501 E Channel Rd, Santa Monica, CA, USA
$15,500,000
$2,199/SF
Building Size
7,048 SF
Asset Type
Single Family Residence
Closing
Feb 28, 2021
About this deal
AI
Located in Santa Monica, the property at 501 E. Channel Rd. was recently sold in a closed transaction. The single-family residence (SFR) spans 7,048 square feet and boasts a sale price of $15,500,000, resulting in a price per square foot (PPSF) of $2,199.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $15,500,000
- Market: Santa Monica
- Address: 501 E. Channel Rd.
The buyer of this property was Mike Patterson, representing Romeo Power. Melissa Rivers acted as the seller. The transaction took place on March 1, 2021.
Players
Santa Monica Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $2.2K per square foot on a published $15.5M for 7,048 square feet (2021).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.02%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93