Rare Westside Portfolio Of Four Multifamily Properties Sold For $19.2M In Santa Monica & West Los Angeles
SOLD
$19,200,000
California
See Similar DealsMultiFamily36,067 SF
Sold 02/21/2020
SOLD
Rare Westside Portfolio Of Four Multifamily Properties Sold For $19.2M In Santa Monica & West Los Angeles
437 San Vicente Boulevard, Santa Monica, CA, USA
See Similar DealsMultiFamily36,067 SF
Sold 02/21/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$532
Total Square Footage:36,067 SF
Transaction Type:Sale
A rare 4-property Westside portfolio, consisting of 3 properties in Santa Monica and 1 in West Los Angeles, has been sold off-market. The properties are well-located in the Santa Monica and West Los Angeles market, offering great potential for investment.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,200,000
- Square Footage: 36,067
- Price per Square Foot: $532.34
- Number of Units: 43
- Price per Unit: $446,511
The transaction was facilitated by Jonathan Taksa, representing the buyer and seller in the deal. With his expertise in the market, he successfully closed this off-market deal, securing the portfolio for the buyer while satisfying the seller's goals.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,024,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,213.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,017.80
Annual Debt Service$1,092,213.54
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