David Weinberger And Pamela Halle Represent Sale Of Multifamily Property In Santa Monica For $5.5M
SOLD
$5,536,000
California
See Similar DealsMultiFamily11,470 SF
Sold 03/31/2020
SOLD
David Weinberger And Pamela Halle Represent Sale Of Multifamily Property In Santa Monica For $5.5M
1455 24th Street, Santa Monica, CA, USA
See Similar DealsMultiFamily11,470 SF
Sold 03/31/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$482
Total Square Footage:11,470 SF
Transaction Type:Sale
A multifamily property located at 1455 24th Street in Santa Monica has recently been sold. The property consists of 16 units and spans a total square footage of 11,470. The sale, facilitated by David Weinberger and Pamela Halle, was finalized on March 31, 2020, for a price of $5,536,000. This translates to approximately $482.65 per square foot, with each unit being sold at an average price of $346,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,536,000
- Address: 1455 24th Street, Santa Monica
- Market: Santa Monica
- Square Footage: 11,470
- Units: 16
- Price per Square Foot: $482.65
- Price per Unit: $346,000
The deal's key individuals were David Weinberger representing the buyer, and Pamela Halle serving as the seller's representative. Both brokers played instrumental roles in the successful completion of this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$295,253.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,668.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,243.46
Annual Debt Service$314,921.57
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