David Weinberger And Pamela Halle Represent Sale Of Multifamily Property In Santa Monica For $5.5M
1455 24th Street, Santa Monica, CA, USA
$5,536,000
$482/SF
Building Size
11,470 SF
Asset Type
MultiFamily
Closing
Mar 30, 2020
AI
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.
Players
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.87%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93