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2615 2nd Street

Updated Dec 4, 2024

Yusuke Kimiwa Acquires 2615 2nd Street Multifamily In Santa Monica For $3.3M
SOLDMultiFamily

Yusuke Kimiwa Acquires 2615 2nd Street Multifamily In Santa Monica For $3.3M

2615 2nd Street

$3,300,000

$702/SF

Building Size

4,696 SF

Asset Type

MultiFamily

Closing

May 9, 2024

About this deal

AI

The multifamily property located at 2615 2nd Street in Santa Monica was sold for $3,300,000. The property consists of 7 units with a total square footage of 4,696. The price per unit was $471,429 and the price per square foot was $703. With a cap rate of 5.23%, this asset offers a lucrative investment opportunity in the Santa Monica market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,300,000
  • Units: 7
  • Square Footage: 4,696
  • Price Per Unit: $471,429
  • Price Per Square Foot: $703
  • Cap Rate: 5.23%
  • Address: 2615 2nd Street, Santa Monica

Yusuke Kimiwa acquired the property from Masako Aikawa in this transaction. The seller's representative for this deal was Han Widjaja Chen from Growth Investment Group. The involvement of these key individuals and the representative signifies a strategic and successful real estate transaction in the Santa Monica market.

On the Map

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$3,300,000

$702/SF

MultiFamily

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Players

Han Widjaja Chen

Growth Investment Group

Broker

$99.3M

vol

21 deals

Broker
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Santa Monica MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $702 per square foot on a published $3.3M for 4,696 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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