Marcus & Millichap Sells Santa Monica Multifamily For $4.4M With Aida Memary, Filip Niculete, Glen Scher
SOLD
$4,400,000
California
See Similar DealsMultiFamily9,076 SF
Sold 10/09/2020
SOLD
Marcus & Millichap Sells Santa Monica Multifamily For $4.4M With Aida Memary, Filip Niculete, Glen Scher
1846 10th St, Santa Monica, CA 90404, USA
See Similar DealsMultiFamily9,076 SF
Sold 10/09/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$484
Total Square Footage:9,076 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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