Santa Monica Multifamily Sells For $5.2M With Jared Levine & Hirsch Sherman As Brokers
1122 9th Street, Santa Monica, CA, USA
$5,200,000
$502/SF
Building Size
10,352 SF
Asset Type
MultiFamily
Closing
Nov 26, 2019
AI
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
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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93