Montana Villa LLC Sells Multifamily Property In Santa Monica For $3.75M

A multifamily property located at 848 19th Street in Santa Monica was recently sold in a closed transaction. The property consists of 6 units and spans a total of 8,322 square feet. The sale took place on August 31, 2020, with a sale price of $3,750,000. This equates to a price per square foot of $450.61. The property was sold at a cap rate of 3.29% and a gross rent multiplier (GRM) of 18.57. The unit price for the property was $625,000.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,750,000
• Units: 6
• Square Footage: 8,322
• Price per Square Foot: $450.61
• Cap Rate: 3.29%
• Gross Rent Multiplier (GRM): 18.57

The seller of the property was Montana Villa LLC. The brokers involved in the transaction were Filip Niculete, Glen Scher, and Aida Memary from the LAAATeam.