The Goldfinger Group Acquires Multi Family Property In Santa Monica For $1.5M
SOLD
$1,500,000
California
See Similar DealsMultiFamily3,898 SF
Sold 11/28/2018
SOLD
The Goldfinger Group Acquires Multi Family Property In Santa Monica For $1.5M
724 Ashland Avenue, Santa Monica, CA 90405, USA
See Similar DealsMultiFamily3,898 SF
Sold 11/28/2018
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$384
Total Square Footage:3,898 SF
Transaction Type:Sale
The multi-family property located at 724 Ashland Ave in Santa Monica has been sold for $1,500,000. The property consists of multiple units and is situated in a desirable market.
Summary of transaction details:
- Property Type: Multi Family
- Transaction Amount: $1,500,000
- Price Per Unit (PPU): $375,000
- Price Per Square Foot (PPSF): $385
- Gross Rent Multiplier (GRM): 17.44
- Capitalization Rate (CAP): 3%
The seller of the property was the Hall Family Trust, and the buyer was the Goldfinger Group. Coldwell Banker Residential Brokerage, represented by Kate Bransfield, facilitated the transaction. Chris Shahinian from Central Realty Advisors served as the buyer's agent.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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