Omid Nikayin Of Coldwell Banker Realty Represents Buyer In $4.6M Multifamily Sale, Santa Monica
2622-26 Montana Ave, Santa Monica, CA, USA
$4,600,000
$726/SF
Building Size
6,336 SF
Asset Type
MultiFamily
Closing
Mar 31, 2021
AI
The multifamily property located at 2622-26 Montana Ave. in Santa Monica has been sold in a recent transaction. The property consists of 10 units with a total square footage of 6,336. The asking price for the property was $4,795,000, and it was sold for $4,600,000. The price per unit was $460,000, and the price per square foot was $726. The sale took place on 04/01/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,600,000
- Address: 2622-26 Montana Ave., Santa Monica
- Market: Santa Monica
- Seller: Edward Jones Trust Company
- Buyer's Representative: Omid Nikayin - Coldwell Banker Realty
- Seller's Representatives: Ryan Dawson & Bill Dawson - Sullivan-Dituri Co.
Omid Nikayin from Coldwell Banker Realty represented the buyer in this transaction. Ryan Dawson and Bill Dawson from Sullivan-Dituri Co. were the seller's representatives.
Players
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93