Joe Lacob & Nicole Curran Acquire Malibu SFR For $29.1M
SOLD
$29,100,000
California
See Similar DealsSingle Family Residence5,512 SF
Sold 02/18/2020
SOLD
Joe Lacob & Nicole Curran Acquire Malibu SFR For $29.1M
Malibu, CA, USA
See Similar DealsSingle Family Residence5,512 SF
Sold 02/18/2020
Summary
CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$5,279
Total Square Footage:5,512 SF
Transaction Type:Sale
A stunning single-family residence in Malibu has been sold for a whopping $29,100,000. The property spans 5,512 square feet, resulting in a price per square foot of $5,279. Located in the coveted Malibu market, this SFR is a remarkable investment opportunity.
Summary of transaction details
- Property Type: SFR
- Transaction Amount: $29,100,000
- Market: Malibu
- Buyer: Joe Lacob & Nicole Curran
- Seller: Joseph Englanoff
- Brokers: Chris Cortazzo - Compass, Jack Turturici - Equity Advisors
Joe Lacob and Nicole Curran have acquired this exquisite property, while Joseph Englanoff served as the seller. The deal was facilitated by brokers Chris Cortazzo from Compass and Jack Turturici from Equity Advisors. Their expertise in the industry contributed to the successful completion of the transaction.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,552,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$103,386.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$137,948.85
Annual Debt Service$1,655,386.15
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