Edgar Hartoonian Acquires Multifamily Property In Santa Monica For $2.6M

Located at 1818 19th Street in Santa Monica, this multifamily property was sold on March 19, 2021. The property consists of 6 units with a total square footage of 5,624. The asking price for the property was $2,700,000, and it was sold for $2,600,000. The price per unit was $433,333, and the price per square foot was $462. The capitalization rate for the property is 5.3%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,600,000
• Units: 6
• Price per Unit: $433,333
• Square Footage: 5,624
• Price per Square Foot: $462
• Capitalization Rate: 5.3%
• Market: Santa Monica
• Date: March 19, 2021

The buyer of the property is Edgar Hartoonian, while the seller is Alex Papadopoulos. Blas Fernandez from @BlasPropertyGroup served as the buyer's representative in the transaction, and May Motamedi represented the seller.