LAAATeam Sells Santa Monica Multifamily Property For $10.1M
SOLD
$10,100,000
+ 2
California
See Similar DealsMultiFamily18,300 SF
Sold 11/06/2020
SOLD
LAAATeam Sells Santa Monica Multifamily Property For $10.1M
2721 6th Street, Santa Monica, CA, USA
See Similar DealsMultiFamily18,300 SF
Sold 11/06/2020
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$551
Total Square Footage:18,300 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$538,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,883.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,879.15
Annual Debt Service$574,549.83
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