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724 Ashland Avenue, Santa M...

Updated Dec 4, 2024

Sevak Keshishian Represents Buyer In $3.4M Santa Monica Multifamily Sale
SOLDMultiFamily

Sevak Keshishian Represents Buyer In $3.4M Santa Monica Multifamily Sale

724 Ashland Avenue, Santa Monica, CA, USA

$3,400,000

$872/SF

Building Size

3,898 SF

Asset Type

MultiFamily

Closing

Jan 4, 2021

About this deal

AI

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.

On the Map

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$3,400,000

$872/SF

MultiFamily

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Players

Sevak Keshishian

Marcus & Millichap

Broker

$77.8M

vol

16 deals

Broker
T
TheGoldfingerGroupSeller
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Santa Monica MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $872 per square foot on a published $3.4M for 3,898 square feet (2021).

Visit Chris Shahinian to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.67%

Cash-on-Cash

-1.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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