Santa Monica Multifamily Building Sold For $10M By Darin Spillman & Rich Johns

A 24 unit apartment building located at 1132-1142 Princeton St in Santa Monica has been sold in a closed transaction. The property, a multifamily asset, was sold on July 2, 2019, by Darin Spillman and Rich Johns. The sale price was $10,000,000, increasing above the asking price. The property has a total area of 21,060 square feet, with a price per square foot of $474.83. It consists of 24 units, with a price per unit of $416,666.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $10,000,000
• Market: Santa Monica
• Address: 1132-1142 Princeton St
• Brokers: Darin Spillman, Rich Johns
• Square Footage: 21,060
• Price per Square Foot: $474.83
• Number of Units: 24
• Price per Unit: $416,666

Darin Spillman and Rich Johns were the brokers involved in this transaction. The property was sold above the asking price, indicating high demand in the market for this multifamily asset.