FCA Acquires MultiFamily Property On Yale St, Santa Monica For $2.45M

The property at 1446 Yale St in Santa Monica, CA, 90404 is a seven-unit apartment building with six bungalow-style one-bedroom units and one studio unit. The 70-year-old building was sold for $2.45M, resulting in a price per unit of $350k. The deal closed at a cap rate of 4.1%. The buyer, FCA, was represented by Kimberly Stepp from Stepp Commercial. The seller was a private investor from LA.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $2,450,000.00
• Market: Santa Monica
• Buyer's Representative: Kimberly Stepp(Stepp Commercial)
• Seller: Private investor from LA

Stepp Commercial principal Kimberly Roberts Stepp represented the buyer, FCA, in the purchase of the property. The 80% vacant, seven-unit apartment building presents an attractive investment opportunity in the Santa Monica market.