Updated Dec 19, 2023
Ben Moghaddam Acquires Santa Monica Multifamily From Elvia Casillas For $2.29M
2218 24th St, Santa Monica, CA, USA
$2,290,000
$622/SF
Building Size
3,679 SF
Asset Type
MultiFamily
Closing
Sep 22, 2021
About this deal
AI
A multifamily property located at 2218 24th St. in Santa Monica has been sold for $2,290,000. The property consists of 5 units with a total square footage of 3,679. The price per unit was $458,000, and the price per square foot was $622.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $2,290,000
- Address: 2218 24th St.
- Market: Santa Monica
- Units: 5
- Price per Unit: $458,000
- Square Footage: 3,679
- Price per Square Foot: $622
The buyer of the property was Ben Moghaddam, and the seller was Elvia Casillas. The transaction was facilitated by Jessica Koltsov, a broker from an undisclosed agency.
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
6.93%
Cash-on-Cash
-1.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93