Montana Villa LLC Sells Multifamily Property In Santa Monica For $3.75M
SOLD
$3,750,000
California
See Similar DealsMultiFamily83,220 SF
Sold 08/31/2020
SOLD
Montana Villa LLC Sells Multifamily Property In Santa Monica For $3.75M
848 19th St, Santa Monica, CA 90403, USA
See Similar DealsMultiFamily83,220 SF
Sold 08/31/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$45
Total Square Footage:83,220 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$199,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$13,322.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,776.91
Annual Debt Service$213,322.96
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