Joe's Auto Parks Acquires Pacific Palisades Single Family Home For $13.86M
SOLD
$13,860,000
+ 1
California
See Similar DealsSingle Family Residence10,568 SF
Sold 12/28/2018
SOLD
Joe's Auto Parks Acquires Pacific Palisades Single Family Home For $13.86M
532 Spoleto Drive, Pacific Palisades, CA 90272, USA
See Similar DealsSingle Family Residence10,568 SF
Sold 12/28/2018
+ 1
Summary
CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$1,311
Total Square Footage:10,568 SF
Transaction Type:Sale
A property in Pacific Palisades has been sold for a whopping $13,860,000. The single-family home, located at 532 Spoleto Drive, spans an impressive 10,568 square feet and was bought by Joe's Auto Parks 212 E. 7th - Spoleto, LLC. The transaction was completed on December 28, 2018, and the property was previously owned by Dean & Shannon Factor.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $13,860,000
- Square Footage: 10,568
- Market: Pacific Palisades
The sale was facilitated by brokers Ari Passy, Josh Flagg, John Hathorn, and Charles Pence. Ari Passy and Josh Flagg were the main representatives involved in the deal.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$739,200.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$49,241.65
Cash-on-Cash Return-1.27%
Monthly Debt Service$65,703.47
Annual Debt Service$788,441.65
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