Optimus Properties LLC Acquires Multifamily In Santa Monica For $12M
SOLD
$12,000,000
California
See Similar DealsMultiFamily27,170 SF
Sold 06/03/2022
SOLD
Optimus Properties LLC Acquires Multifamily In Santa Monica For $12M
2901 4th Street, Santa Monica, California 90405, United States
See Similar DealsMultiFamily27,170 SF
Sold 06/03/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$441
Total Square Footage:27,170 SF
Transaction Type:Sale
Optimus Properties LLC has recently acquired a multifamily property located at 2901 4th St. in Santa Monica. The transaction, which took place on June 3, 2022, was facilitated by Kamyar Shabani from the same company.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 2901 4th St., Santa Monica
- Market: Santa Monica
- Units: 22
- Price per Unit (PPU): $545,454
The property, with its 22 units, offers a significant investment opportunity for Optimus Properties LLC. Kamyar Shabani, representing Optimus Properties LLC, played a key role in ensuring the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$640,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47
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