Located in Santa Monica at 2224 Oak Street, this multifamily property was recently sold in a closed transaction. The property consists of 6 units spanning a total of 3,590 square feet. Built in 1937 and renovated in 2021, this property offers a desirable living space in 90405.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $2,700,000
• Units: 6
• Price per Unit: $450,000
• Square Footage: 3,590
• Price per Square Foot: $752
• GRM: 16.99x
• CAP: 3.84%

The buyer, John Vojtech, acquired the property from the seller, James Russell Gortikov. The transaction was facilitated by brokers Filip Niculete, Glen Scher, Aida Memary Scher (LAAA Team), and Sam Liberow (Liberow Group) of Marcus & Millichap. Their expertise and guidance played a crucial role in the successful completion of this sale.

This transaction reflects a strong market value, with a price per square foot of $752 and a price per unit of $450,000. The property's capitalization rate stands at 3.84%, indicating a favorable return on investment. Furthermore, the gross rent multiplier (GRM) for this property is 16.99x, underlining its financial viability in the market.