Updated Dec 18, 2023
Investor Acquires Multifamily Property On San Vicente Blvd In Santa Monica For $11.75M
608 San Vicente Boulevard, Santa Monica, CA, USA
$11,750,000
$603/SF
Building Size
19,476 SF
Asset Type
MultiFamily
Closing
Mar 15, 2020
About this deal
AI
Located on prestigious San Vicente Blvd in Santa Monica, this multifamily property was recently sold off-market to an investor who already owns multiple properties on the street. The courtyard-style property offers a prime location with lots of rental upside. With a total of 27 units and a spacious 19,476 square feet, this property presents an excellent investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,750,000
- Size: 19,476 square feet
- Price Per Square Foot: $603.31
- Number of Units: 27
- Price Per Unit: $435,185
- Brokers: Jonathan Taksa & Rob Renshaw
The deal was facilitated by the experienced team of brokers, Jonathan Taksa and Rob Renshaw, who played a crucial role in connecting the buyer and seller. Their expertise and local market knowledge were instrumental in ensuring a successful transaction for both parties involved in this off-market sale.
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
1.35%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93