NAI Capital Brokers Acquire Multifamily Property In Santa Monica For $12.1M
$12,100,000
SOLD
$12,100,000
California
See Similar DealsMultiFamily28,403 SF
Sold 04/22/2020
$12,100,000
SOLD
NAI Capital Brokers Acquire Multifamily Property In Santa Monica For $12.1M
2643 Centinela Ave, Santa Monica, CA, USA
See Similar DealsMultiFamily28,403 SF
Sold 04/22/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$426
Total Square Footage:28,403 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily building located at 2643 Centinela Ave in Santa Monica. The sale price reached $12,100,000, encompassing an area of 28,403 square feet, which translates to a price per square foot of $426.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,100,000
- Address: 2643 Centinela Ave
- Market: Santa Monica
- Square Footage: 28,403
- Price per Square Foot: $426
- Brokers: Sheri Messerlian & Tim Steuernol - NAI Capital
The deal was represented by brokers Sheri Messerlian and Tim Steuernol from NAI Capital, who facilitated the transaction involving the multifamily asset in Santa Monica. Their expertise contributed to the successful closing of this property sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$645,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,988.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,360.17
Annual Debt Service$688,322.08
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