Marcus & Millichap Sells Santa Monica Multifamily For $4.4M With Aida Memary, Filip Niculete, Glen Scher
1846 10th St, Santa Monica, CA 90404, USA
$4,400,000
$484/SF
Building Size
9,076 SF
Asset Type
MultiFamily
Closing
Oct 8, 2020
AI
An all-cash transaction for a multifamily property in Santa Monica has been successfully closed. The property, located at 1846 10th St, was sold for a total of $4,400,000. The transaction involved 10 units, resulting in a price per unit of $440,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,400,000
- Address: 1846 10th St, Santa Monica
- Market: Santa Monica
- Brokers: Aida Memary, Filip Niculete, Glen Scher – Marcus & Millichap @LAAATeam
The deal was facilitated by the Marcus & Millichap team, specifically Aida Memary, Filip Niculete, and Glen Scher from the LAAATeam. The transaction was completed within a 14-day escrow period, with due diligence conducted in just one day. The quick closing suggests a smooth and efficient process.
Overall, this closed transaction highlights the successful sale of a multifamily property in Santa Monica, showcasing the expertise and efficiency of the Aida Memary, Filip Niculete, and Glen Scher from Marcus & Millichap's LAAATeam.
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93