Updated Dec 4, 2025
David Simanian Acquires Multifamily Property From Ramin Mesriani In Santa Monica For $3.33M
1247 Berkeley Street
$3,330,000
$370/SF
Building Size
8,990 SF
Asset Type
MultiFamily
Closing
Dec 1, 2025
About this deal
AI
The multifamily property located at 1247 Berkeley Street in Santa Monica has been sold for $3,330,000. The property consists of 6 units and offers a total square footage of 8,990, resulting in a price per unit of $555,000 and a price per square foot of $370.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,330,000
- Units: 6
- Price Per Unit: $555,000
- Square Footage: 8,990
- Price Per Square Foot: $370
- Buyer: David Simanian
- Seller: Ramin Mesriani
- Brokers: Chase Simonton & Andrew Wong - RE/MAX One Commercial
The transaction involved David Simanian as the buyer, while Ramin Mesriani represented the seller. The brokerage for the deal was managed by Chase Simonton and Andrew Wong from RE/MAX One Commercial, highlighting their role in facilitating this multifamily transaction.
On the Map
$3,330,000
$370/SF
MultiFamily
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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
4.76%
Cash-on-Cash
-1.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93