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Santa Monica Multifamily Sells For $5.2M With Jared Levine & Hirsch Sherman As Brokers

Property Image
SOLD
$5,200,000
Jared Levine
Hirsch Sherman

California

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MultiFamily10,352 SF
Sold
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Property Image
SOLD

Santa Monica Multifamily Sells For $5.2M With Jared Levine & Hirsch Sherman As Brokers

1122 9th Street, Santa Monica, CA, USA

See Similar Deals
MultiFamily10,352 SF
Sold
Jared Levine
Hirsch Sherman
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$502
Total Square Footage:10352 SF
Transaction Type:Sale

Hirsch Sherman and Jared Levine of JML Real Estate Group have recently closed a multifamily property transaction in Santa Monica. The property, located at 1122 9th Street, was sold on November 27, 2019.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,200,000
  • Square Footage: 10,352
  • Price per Square Foot: $502.32
  • Number of Units: 10
  • Price per Unit: $520,000

Jared Levine and Hirsch Sherman, who represented the buyers and sellers respectively, were the brokers involved in this successful transaction.

Players

Jared Levine
Jared Levine
22 deals$100.5M volume(818) 657-6556
BROKER
Hirsch Sherman
Keller Williams Realty
Hirsch Sherman
23 deals$103.3M volume
BROKER

Details

SOLD
IMAGE: Hirsch Sherman & Jared Levine @jmlrealestategroup DATE: 11/27/2019 ADDRESS: 1122 9th Street MARKET: Santa Monica ASSET TYPE: Multifamily PRICE: $5,200,000 SF: 10,352 PPSF: $502.32 UNITS: 10 PPU: $520,000 BROKERS: Jared Levine, Hirsch Sherman @jmlrealestategroup

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

$277,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83