Updated Dec 21, 2023
Ben Pouldar & Matt Pouldar Acquire Santa Monica Multifamily For $9.85M
1008 2nd Street, Santa Monica, California 90403, United States
$9,850,000
$631/SF
Building Size
15,600 SF
Asset Type
MultiFamily
Closing
Jun 29, 2022
About this deal
AI
The multifamily property located at 1008 2nd St. in Santa Monica has been sold in a recent transaction. The sale was finalized on June 30, 2022, with a sale price of $9,850,000. The property consists of 14 units, providing an average price per unit of $703,571. The total square footage of the property is 15,600, resulting in a price per square foot of $631.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,850,000
- Units: 14
- Average Price per Unit: $703,571
- Square Footage: 15,600
- Price per Square Foot: $631
The buyers in this transaction are Ben Pouldar and Matt Pouldar, while the seller is Jeffrey Nemoy. Representing the buyers and sellers respectively are Jonathan Taksa from Taksa Investment Group and Justin Kohanoff from Westgate Group.
On the Map
$9,850,000
$631/SF
MultiFamily
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Players
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.61%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93