Surf Realty, Inc. Sells Santa Monica Multifamily Property For $2.99M With Kimberly Stepp - Stepp Commercial

An 8-unit multifamily property located at 2327 2nd Street in Santa Monica, CA, has been sold for $2,990,000. The property was listed by Surf Realty, Inc., and the sale was facilitated by Kimberly Stepp of Stepp Commercial. The transaction took place on September 22, 2022, and has a cap rate of 1.4%. Each unit was sold at an average price of $373,750.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2,990,000
• Market: Santa Monica, CA
• Seller: Surf Realty, Inc.
• Broker: Kimberly Stepp - Stepp Commercial
• Date: September 22, 2022
• Units: 8
• Price Per Unit: $373,750
• Cap Rate: 1.4%

Kimberly Stepp, representing Stepp Commercial, played a key role in facilitating the sale of this multifamily property. With a transaction amount of $2,990,000, the property offers a unique investment opportunity in the Santa Monica market. The sale was successful on September 22, 2022, with a cap rate of 1.4%. This transaction showcases the expertise and capabilities of Kimberly Stepp and Stepp Commercial in the real estate sector.