Updated Oct 29, 2024
Garrapata Coast LLC Purchases 6-Acre Compound On Highway One In Monterey County For $24.5M
35678 Highway ONE, Monterey, CA 93940
$24,500,000
$6,663/SF
Building Size
3,677 SF
Asset Type
Single Family
Closing
May 26, 2023
About this deal
AI
A compound spanning over 6 acres on Highway One between Carmel and Big Sur has sold for $24.5 million, making it Monterey County's biggest deal this year. The property, owned by impact investors Karl and Lisa Kleissner, includes a main home, guest home, garage, and potential for a third home.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $24,500,000
- Address: 35678 Highway One
- Market: Monterey
- Asset Type: Single Family
- Acres: 6
The buyer, Garrapata Coast LLC, was represented by Steve Beutel of Sotheby's International Realty. The seller, Karl and Lisa Kleissner, were represented by Michael Gilson of Coldwell Banker.
Players
Los Angeles Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93