Santa Monica Multifamily Sells For $2.052M With Marcus & Millichap As Brokers

Located at 2416 20th St. in Santa Monica, this multifamily property recently changed hands in a sale transaction. The property consists of 5 units, offering a total of 3,076 square feet of space. The sale price for this property was $2.052 million, resulting in a price per square foot of $667. The per unit price was approximately $410,400. The capitalization rate for this property was 4.50%, while the gross rent multiplier was 15.18. This transaction was facilitated by Marcus & Millichap, with brokers Filip Niculete, Glen Scher, Rick Ramirez, and Aida Memary representing the parties involved.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $2.052 million
• Address: 2416 20th St., Santa Monica
• Market: Santa Monica
• Square Footage: 3,076
• Price per Square Foot: $667
• Number of Units: 5
• Price per Unit: $410,400
• Capitalization Rate: 4.50%
• Gross Rent Multiplier: 15.18

The sale of this multifamily property was successfully facilitated by the team at Marcus & Millichap, specifically, brokers Filip Niculete, Glen Scher, Rick Ramirez, and Aida Memary, who represented the parties involved in the transaction.