He’s not exactly a family name, but Ernest “Ernie” Garcia II has quietly become one of the wealthiest Americans to have used car sales and financing, an uncensored business that has yet to prove highly lucrative. Forbes says the 3-year-old drivetime owner is a wealthy Arizona man, and the Bloomberg Billionaires Index Garcia and his son Ernie Garcia III have a combined fortune of 21.4 billion.
Big Garcia has now turned that green thing into sand, the “super rare” – according to the list – the W wide ocean lot paid about 17 17.8 million for the sunny and fitness-based town in Manhattan Beach, LA. He is like the hard-charging mogul, records show that Garcia made a tough bargain for the compound, which originally went on the market in 2015, was listed at 26.5 million and finally asked for ৮ 22.8 million. In 1995, he sold the property for only 3 2.3 million to the late car collector Stanley Zimmerman.
Although Lotte currently owns a large house, it is no secret that the real value here lies in the land. The existing residence, an architecturally obscure 6,000-square-foot structure that looks more like a daddy apartment complex than typically a $ 17.8 million mansion, was built in 1951, and the list gently suggests that the place provides a teardown, even rendering of a snazzy new home. Could potentially be built on lots.
Whatever Garcia plans for the .16-acre property, the place sits next to the neighborhood’s famous Strand and is blessed with endless sea views and a sandy backyard. It also runs the distance with the Manhattan Beach Pier, local shops and a variety of dining.
Garcia, convicted in the early 1990s for a three-year trial on bank fraud charges, bought the assets of bankrupt car rental businessman Ugly Docling in 1991. As the country’s largest privately owned used car sales and finance company with more U.S. employees. Garcia and his son, founder of Carvana, an online used car retailer with an annual revenue of বিল 4 billion.
Annie and Michael Walker of Sotheby’s International Realty kept the list; Jim Orlando’s David Kendall removed Garcia again.