Marcus & Millichap Sells 24-Unit Multifamily Property In Santa Monica For $8M
2647 6th St, Santa Monica, CA 90405, USA
$8,000,000
$14,260/SF
Building Size
561 SF
Asset Type
MultiFamily
Closing
Sep 8, 2020
AI
The multifamily property located at 2647 6th Street in Santa Monica has been sold in a closed transaction. The property consists of 24 units, with a price of $8,000,000. This amount equates to a per unit price of $333,333. The sale was facilitated by David O’Keefe and Steve Bogoyevac, representatives from Marcus & Millichap.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,000,000
- Units: 24
- Price Per Unit: $333,333
- Brokers: David O’Keefe & Steve Bogoyevac – Marcus & Millichap
The involvement of David O’Keefe and Steve Bogoyevac from Marcus & Millichap played a crucial role in the successful completion of the transaction. These individuals and their agency provided expertise and guidance throughout the sale process.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93