Sean Lee Acquires Multifamily Property In Santa Monica For $7.1M
SOLD
$7,100,000
California
See Similar DealsMultiFamily7,424 SF
Sold 02/25/2022
SOLD
Sean Lee Acquires Multifamily Property In Santa Monica For $7.1M
301 Ashland Avenue, Santa Monica, California 90405, United States
See Similar DealsMultiFamily7,424 SF
Sold 02/25/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$956
Total Square Footage:7,424 SF
Transaction Type:Sale
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.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$378,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,224.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$33,657.62
Annual Debt Service$403,891.47
Is there something missing? Send suggestions