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Sean Namigohar Of Marcus & Millichap Buys Multifamily Property In Venice For $2.52M

Property Image
SOLD
$2,520,000
Sean Nami
AF

California

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MultiFamily3,208 SF
Sold 06/18/2024
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Property Image
SOLD

Sean Namigohar Of Marcus & Millichap Buys Multifamily Property In Venice For $2.52M

2415 Abbot Kinney Boulevard

See Similar Deals
MultiFamily3,208 SF
Sold 06/18/2024
Sean Nami
AF
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$785
Total Square Footage:3,208 SF
Transaction Type:Sale

2415 Abbot Kinney Boulevard in Venice, a multifamily property, has been sold for $2,520,000. This property consists of a large duplex with a total of 2 units, spanning 3,208 square feet and priced at $786 per square foot.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,520,000
  • Address: 2415 Abbot Kinney Boulevard
  • Market: Venice
  • Units: 2
  • Price per Unit: $1,260,000
  • Square Footage: 3,208
  • Price per Square Foot: $786

Sean Namigohar from Marcus & Millichap and Amerigo Furlan from IF Realty were the key representatives in this transaction. Sean Namigohar represented the buyer, while Amerigo Furlan represented the seller. This sale showcases a lucrative opportunity for high rental income, particularly from the remodeled downstairs unit, currently rented via Airbnb, making it an attractive investment in the bustling Venice neighborhood.

Players

Sean Nami
Marcus & Millichap
Sean Nami
13 deals$133.6M volume(310) 909-2393
BROKER
AF
Amerigo Furlan
1 deal$2.5M volume(310) 714-0646
BROKER

Details

SOLD
IMAGE: Sean Namigohar DATE: 06/18/2024 ADDRESS: 2415 Abbot Kinney Boulevard MARKET: Venice ASSET TYPE: Multifamily BUYER'S REP: Sean Namigohar (@SeanNamicre) - Marcus & Millichap (@MarcusMillichapinc) SELLER'S REP: Amerigo Furlan - IF Realty SALE PRICE: $2,520,000 UNITS: 2 ~ PPU: $1,260,000 SF: 3,208 ~ PPSF: $786 NOTE: 2415 Abbot Kinney Boulevard in Venice has been sold for $2,520,000, with Sean Namigohar of Marcus & Millichap representing the buyer and Amerigo Furlan of IF Realty representing the seller. This multifamily property, featuring a large duplex in excellent condition, offers a lucrative opportunity with potential for high rental income, especially from the remodeled downstairs unit currently rented via Airbnb, making it an ideal investment for both owner-users and savvy investors in the vibrant Venice neighborhood.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$134,400.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,953.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,946.09
Annual Debt Service$143,353.03