Shenghan Zhang Acquires Multifamily Asset From Ross Sklar For $1.8M In Santa Monica
SOLD
$1,800,000
California
See Similar DealsMultiFamily2,566 SF
Sold 05/22/2025
SOLD
Shenghan Zhang Acquires Multifamily Asset From Ross Sklar For $1.8M In Santa Monica
1246 Chelsea Avenue
See Similar DealsMultiFamily2,566 SF
Sold 05/22/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$701
Total Square Footage:2,566 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$96,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02
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