A multifamily property located at 1753 9th St. in Santa Monica has been sold in a recent transaction. The property, built in 1987 and renovated in 2019, consists of 7 units. The sale price for this turn-key property was $5,100,000, resulting in a cap rate of 4.23%. With a gross rent multiplier of 16.29x, each unit is valued at approximately $729,000, and the price per square foot is $778.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,100,000
• Market: Santa Monica
• Address: 1753 9th St.
• Buyer: John Vojtech
• Seller: Gary Goren
• Brokers: Filip Niculete, Glen Scher & Aida Memary Scher (LAAA Team) - Marcus & Millichap
• Units: 7
• Price per Unit: $729,000
• Square Footage: 6,566
• Price per Square Foot: $778
• Cap Rate: 4.23%
• Gross Rent Multiplier: 16.29x

The LAAA Team from Marcus & Millichap represented the buyer and seller in this transaction, facilitating the successful sale of the property in Santa Monica. The diverse team of brokers, including Filip Niculete, Glen Scher, and Aida Memary Scher, played a crucial role in ensuring a smooth and efficient deal.