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Jonathan Jaffe's SFR In Lower Newport Bay Sold For $27M With Buyer's Rep Susie McKibben & Seller's Rep Tim Smith

Property Image
SOLD
$27,000,000
Susie McKibben
Tim Smith

California

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Single Family Residence6,984 SF
Sold 02/16/2022
the dealplayerscompscontact
Property Image
SOLD

Jonathan Jaffe's SFR In Lower Newport Bay Sold For $27M With Buyer's Rep Susie McKibben & Seller's Rep Tim Smith

Newport Beach, California, United States

See Similar Deals
Single Family Residence6,984 SF
Sold 02/16/2022
Susie McKibben
Tim Smith
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$3,866
Total Square Footage:6,984 SF
Transaction Type:Sale

The property involved in this closed transaction is a Single Family Residence (SFR) located in the Lower Newport Bay market. The property measures approximately 6,000 square feet and was sold for a total price of $27,000,000, which translates to a price per square foot of $4,500.

Summary of transaction details:

The seller, Jonathan Jaffe, represents Lennar Corp., while the buyer was represented by Susie McKibben from Villa Real Estate. Tim Smith from Coldwell Banker acted as the seller's representative in this transaction.

Players

Tim Smith
Coldwell Banker
Tim Smith
6 deals$173.9M volume
BROKER
Susie McKibben
Susie McKibben
1 deal$27M volume
BROKER
Lennar
Lennar
SELLER
Lennar
Lennar
LENDER

Details

SOLD
IMAGE: Jonathan Jaffe, Susie McKibben & Tim Smith DATE: 02/16/2022 MARKET: Lower Newport Bay ASSET TYPE: SFR SELLER: Jonathan Jaffe - Lennar Corp. 🏘 BUYER'S REP: Susie McKibben (@MckibbenRealEstate) - Villa Real Estate (@Villa_RealEstate) SELLER'S REP: Tim Smith - Coldwell Banker (@ColdwellBanker) SALE PRICE: $27,000,000 SF: 6,000 ~ PPSF: $4,500

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

$1,440,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$95,925.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$127,993.77
Annual Debt Service$1,535,925.30