LAAATeam Sells Santa Monica Multifamily Property For $10.1M

Located at 2721 6th St. in Santa Monica, this multifamily property was recently sold on November 6, 2020. The property consists of 22 units with a total square footage of 18,300. The sale price for this property was $10,100,000, resulting in a price per unit of $459,091. The price per square foot was calculated to be $551, and the Gross Rent Multiplier (GRM) for this transaction was 16.60. The Capitalization Rate (CAP) was 4.05%.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $10,100,000
• Address: 2721 6th St., Santa Monica
• Market: Santa Monica

The listing agents for this transaction were Aida Memary, Glen Scher, and Filip Niculete from @LAAATeam. The selling agents were Aida Memary, Arash Memary, Jonathan Erster, Glen Scher, and Filip Niculete, also from @LAAATeam.