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2647 6th St, Santa Monica, ...

Marcus & Millichap Sells 24-Unit Multifamily Property In Santa Monica For $8M
SOLDMultiFamily

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

David OKeefe

Marcus & Millichap

Broker

$8M

vol

2 deals

Broker

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