424 West 33rd Street Acquires Santa Monica Multifamily For $4M With T.C. Macker & Jennifer Moscoso - WESTMAC Commercial Brokerage Company

A multifamily property located at 2823 2nd Street in Santa Monica has been sold for a price of $4,000,000. The property spans across 7,407 square feet with a price per square foot of $540.03. It has a total building square footage of 13,063, resulting in a price per building square foot of $306.20. The property consists of 12 units, including 11 one-bedroom units and 1 studio. The price per unit stands at $333,333. The gross rent multiplier (GRM) for this transaction is 14.25, and the capitalization rate (CAP) is 4.35%.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $4,000,000
• Address: 2823 2nd Street, Santa Monica
• Square Footage: 7,407
• Price per Square Foot: $540.03
• Building Square Footage: 13,063
• Price per Building Square Foot: $306.20
• Units: 12 (11 One Beds & 1 Studio)
• Price per Unit: $333,333
• Gross Rent Multiplier (GRM): 14.25
• Capitalization Rate (CAP): 4.35%

The buyer of the property is 424 West 33rd Street, while the seller is Julie Ann Mezydlo Living Trust. The transaction was facilitated by T.C. Macker and Jennifer Moscoso of WESTMAC Commercial Brokerage Company. It is worth noting that the buyer was in a 1031 exchange. Both the buyer and seller were represented by WESTMAC Commercial Brokerage Company. For more information about this transaction, you can contact T.C. Macker at [email protected] or Jennifer Moscoso at [email protected].