Shenghan Zhang Acquires Multifamily Asset From Ross Sklar For $1.8M In Santa Monica
1246 Chelsea Avenue
$1,800,000
$701/SF
Building Size
2,566 SF
Asset Type
MultiFamily
Closing
May 21, 2025
AI
The sale involves a multifamily asset located at 1246 Chelsea Avenue in Santa Monica. It was sold for $1,800,000, comprising 4 units. The property has a total square footage of 2,566, resulting in a price per unit of $450,000 and a price per square foot of $701.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- Units: 4
- Square Footage: 2,566
- Price Per Unit: $450,000
- Price Per Square Foot: $701
- Buyer: Shenghan Zhang
- Seller: Ross Sklar
- Buyer's Representative: Dittany Zhang Seltzer - Berkshire Hathaway HomeServices
- Seller's Representative: Jake Glaser - Lyon Stahl Investment Real Estate
The transaction was facilitated by Dittany Zhang Seltzer representing the buyer, and Jake Glaser representing the seller, ensuring a structured negotiation throughout the deal process.
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93