Marcus & Millichap's LAAA Team Sells Santa Monica Multifamily Property For $4.1M

An all cash transaction for a multifamily property located at 2683 34th St in Santa Monica has been closed. The property consists of 12 units and was sold for a price of $4,100,000. The price per square foot comes out to be $660.44. The sale took place during the COVID-19 pandemic and the buyer opened escrow fully non-contingent. The transaction was completed in an 18-day escrow period and generated multiple offers. It is worth mentioning that the seller is exchanging out of state.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $4,100,000
• Units: 12
• Price per Square Foot: $660.44
• Market: Santa Monica

The Marcus & Millichap LAAA team, represented by Aida Memary, Filip Niculete, and Glen Scher, served as the brokers for this deal.