Updated Dec 21, 2023
Sean Lee Acquires Multifamily Property In Santa Monica For $7.1M
301 Ashland Avenue, Santa Monica, California 90405, United States
$7,100,000
$956/SF
Building Size
7,424 SF
Asset Type
MultiFamily
Closing
Feb 24, 2022
About this deal
AI
A multifamily property located at 301 Ashland Ave in Santa Monica has been sold in a recent transaction. The property consists of 9 units with a total square footage of 7,424. The sale price for this transaction was $7,100,000, resulting in a price per unit of $788,888 and a price per square foot of $956.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,100,000
- Address: 301 Ashland Ave, Santa Monica
- Market: Santa Monica
The buyer of this property is Sean Lee, while the seller is Joe Penner. The brokers involved in this transaction are Michael Sterman and Jeff Louks from Marcus & Millichap, as well as Lane Aronson from Berkshire Hathaway.
On the Map
$7,100,000
$956/SF
MultiFamily
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Players
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
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93