Updated Oct 28, 2024
The Goldfinger Group Acquires Multifamily Property In Santa Monica For $2.6M
1824 Michigan Avenue, Santa Monica, CA, USA
$2,621,500
$508/SF
Building Size
5,160 SF
Asset Type
MultiFamily
Closing
May 28, 2020
About this deal
AI
The multifamily property located at 1824 Michigan Ave. in Santa Monica was recently sold in a closed transaction. The property consists of 7 units, with a total square footage of 5,160. The sale price for the property was $2,621,500, resulting in an average price per unit of $374,500 and a price per square foot of $508.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,621,500
- Units: 7
- Price per Unit: $374,500
- Square Footage: 5,160
- Price per Square Foot: $508
The sellers of the property were Elijah Korobkin and Maxx Feldman, represented by The Goldfinger Group. The transaction took place on May 28, 2021. Elijah Korobkin and The Goldfinger Group are currently seeking a 1031 exchange upleg and are open to considering new deals. For inquiries, please contact Elijah Korobkin or The Goldfinger Group.
Players
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.05%
Cash-on-Cash
-1.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93