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Paul & Gwendolyn Johnson Acquire Montecito, CA Single Family Home From Larry David For $6.9M

Property Image
SOLD
$6,900,000
Whitney Parker
Cristal Clarke
LD

California

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Single Family2,858 SF
Sold 09/20/2022
the dealplayerscompscontact
Property Image
SOLD

Paul & Gwendolyn Johnson Acquire Montecito, CA Single Family Home From Larry David For $6.9M

Single Family2,858 SF
Sold 09/20/2022
Whitney Parker
Cristal Clarke
LD
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Single Family
Price Per Square Foot:$2,414
Total Square Footage:2,858 SF
Transaction Type:Sale

A single-family property located in Montecito, CA has been sold for $6,900,000. Situated on 0.19 acres of land, the property offers 2,858 square feet of living space. The sale was completed on 09/20/2022.

Summary of transaction details

  • Property Type: Single Family
  • Transaction Amount: $6,900,000
  • Market: Montecito, CA
  • Acres: 0.19
  • Square Feet: 2,858

Paul & Gwendolyn Johnson have purchased the property from Larry David, the well-known comedian. The buyer was represented by Whitney Parker from Berkshire Hathaway Home Services California Properties, while the seller was represented by Cristal Clarke from Berkshire Hathaway.

Players

Cristal Clarke
Berkshire Hathaway HomeServices
Cristal Clarke
6 deals$78.4M volume
BROKER
Whitney Parker
Berkshire Hathaway HomeServices
Whitney Parker
2 deals$14.9M volume
BROKER
LD
Larry David
3 deals$20.2M volume
SELLER

Details

SOLD
IMAGE: Larry David DATE: 09/20/2022 MARKET: Montecito, CA ASSET TYPE: Single Family ~ ACRES: 0.19 BUYER: Paul & Gwendolyn Johnson SELLER: Larry David (@CurbyourLarryDavid) - Comedian BUYER’S REP: Whitney Parker - Berkshire Hathaway Home Services California Properties SELLER’S REP: Cristal Clarke - Berkshire Hathaway SALE PRICE: $6,900,000 SF: 2,858 ~ PPSF: $2,414

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

$367,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$24,514.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,709.52
Annual Debt Service$392,514.24