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Del Mar Beachfront Home Sets County Record With $44.1M Sale

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SOLD
$44,100,000

California

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Single Family
Sold 10/31/2023
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Property Image
SOLD

Del Mar Beachfront Home Sets County Record With $44.1M Sale

2940 Sandy Lane

See Similar Deals
Single Family
Sold 10/31/2023
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Summary

CALIFORNIA
Asset Type:Single Family
Transaction Type:Sale

A historic San Diego beachfront home located at 2940 Sandy Lane in Del Mar has recently closed in a sale for $44,100,000. The property, built by Hollywood developer C.E. Toberman, has set a county record in San Diego County. This single-family home, which belonged to the Fletcher family, features a guesthouse, detached apartment, tennis court, and swimming pool. It holds a unique connection to Old Hollywood.

Summary of transation details:

  • Property Type: Single Family
  • Transaction Amount: $44,100,000
  • Address: 2940 Sandy Lane, Del Mar
  • Market: Del Mar

The sale of this magnificent property was facilitated by Brian Guiltinan from The Guiltinan Group, who represented the sellers, Wendy Fletcher Dyer and Kim Fletcher.

Players

Brian Guiltinan
2 deals$87.1M volume
BROKER

Details

SOLD
IMAGE: Brian Guiltinan DATE: 10/31/2023 ADDRESS: 2940 Sandy Lane MARKET: Del Mar ASSET TYPE: Single Family SELLER: Wendy Fletcher Dyer & Kim Fletcher BROKER: Brian Guiltinan (@GuiltinanGroup) - The Guiltinan Group (@TheGuiltinanGroup) SALE PRICE: $44,100,000 NOTE: A historic San Diego beachfront home, built by Hollywood developer C.E. Toberman, has set a county record with a $44.1 million sale. The Del Mar property, the last Fletcher family home on Sandy Lane, includes a guesthouse, detached apartment, tennis court, swimming pool, and boasts a unique connection to Old Hollywood.

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

$2,352,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$156,677.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$209,056.50
Annual Debt Service$2,508,677.99