A 4-unit multifamily property located at 724 Ashland Ave in Santa Monica has been sold for $3,400,000. The property spans 3,898 square feet, with each unit having an average price of $850,000. The price per square foot is $872, and the Gross Rent Multiplier (GRM) is 14.8. The property has a capitalization rate (CAP) of 4.99%.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,400,000
• Address: 724 Ashland Ave, Santa Monica
• Market: Santa Monica
• Units: 4
• Price per Unit (PPU): $850,000
• Square Feet (SF): 3,898
• Price per Square Foot (PPSF): $872
• GRM: 14.8
• CAP: 4.99%

The buyer's broker, Sevak Keshishian from The SK Group, represented the buyer in the transaction. The seller was Elijah Korobkin from The Goldfinger Group, and the seller's broker was Chris Shahinian. It is worth noting that The Goldfinger Group is actively searching for a 1031 exchange upleg.