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David Simanian Acquires Multifamily Property From Ramin Mesriani In Santa Monica For $3.33M

Property Image
SOLD
$3,330,000
Chase Simonton
Andrew Wong

California

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MultiFamily8,990 SF
Sold 12/01/2025
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Property Image
SOLD

David Simanian Acquires Multifamily Property From Ramin Mesriani In Santa Monica For $3.33M

1247 Berkeley Street

See Similar Deals
MultiFamily8,990 SF
Sold 12/01/2025
Chase Simonton
Andrew Wong
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$370
Total Square Footage:8,990 SF
Transaction Type:Sale

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.

Players

Chase Simonton
Re/Max
Chase Simonton
45 deals$142.5M volume(310) 383-5927
BROKER
Andrew Wong
Re/Max
Andrew Wong
3 deals$12M volume(310) 683-5400
BROKER

Details

SOLD
IMAGE: Chase Simonton & Andrew Wong DATE: 12/01/2025 ADDRESS: 1247 Berkeley Street MARKET: Santa Monica ASSET TYPE: Multifamily BUYER: David Simanian SELLER: Ramin Mesriani BROKERS: Chase Simonton (@VPChaser) & Andrew Wong (@Andrewremaxone) - RE/MAX One Commercial (@REMAXOneCommercial) SALE PRICE: $3,330,000 UNITS: 6 ~ PPU: $555,000 SF: 8,990 ~ PPSF: $370

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$177,600.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$11,830.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,785.90
Annual Debt Service$189,430.79