Updated Feb 17, 2025
Kenny Stevens Of Compass Represents Buyer In $3.3M Multifamily Sale In Venice
209 4th Avenue
$3,300,000
$481/SF
Building Size
6,850 SF
Asset Type
MultiFamily
Closing
Feb 11, 2025
About this deal
AI
A six-unit multifamily property located at 209 4th Avenue in Venice has been sold for $3,300,000. The building encompasses a total area of 6,850 square feet, resulting in a price per unit of $550,000 and a price per square foot of $482. Notable features of the property include ocean views and gated parking, along with a completed earthquake retrofit.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Units: 6
- Square Footage: 6,850
- Price per Unit: $550,000
- Price per Square Foot: $482
- Buyer's Representative: Kenny Stevens - Compass
- Seller's Representative: Wesley Wellman - Wellman Realty
Kenny Stevens from Compass represented the buyer in this transaction, whereas Wesley Wellman from Wellman Realty represented the seller, facilitating the successful sale of the multifamily asset.
On the Map
$3,300,000
$481/SF
MultiFamily
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Venice 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93