Updated Dec 21, 2023
Taksa Investment Group Sells Rare Mid-Century Multifamily Building In Santa Monica For $14.6M
621 San Vicente Blvd, Santa Monica, CA 90402, USA
$14,560,000
$354/SF
Building Size
41,077 SF
Asset Type
MultiFamily
Closing
Jul 1, 2019
About this deal
AI
A multifamily property located at 621 San Vicente Blvd, Santa Monica, CA 90402 has been sold. The property, built in 1960 by the owner's family, was recently sold off-market. It is a rare mid-century Moderne building consisting of all large two-bedroom units and features an on-site pool. The property is situated within walking distance to Santa Monica beach, adding to its appeal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,560,000
- Square Footage: 41,077
- Price Per Square Foot: $354.46
- Market: Santa Monica
The sale of this property was facilitated by Jonathan Taksa of Taksa Investment Group. As the buyer's representative, Taksa played a crucial role in negotiating and finalizing the transaction. By leveraging his expertise in the Santa Monica market, he ensured a smooth and successful sale for his client.
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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93