Updated Dec 21, 2023
Kimberly Stepp With Stepp Commercial Sells 11-Unit Multifamily In Santa Monica For $5.5M
917 6th Street, Santa Monica, California 90403, United States
$5,500,000
Units
11
Asset Type
MultiFamily
Closing
Jul 27, 2022
About this deal
AI
A multifamily property located at 917 6th Street in Santa Monica has been sold. The sale took place on 07/28/2022 for a total price of $5,500,000. The property consists of 11 units, resulting in a price per unit of $500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Units: 11
The sale was facilitated by Kimberly Stepp from Stepp Commercial, who acted as the broker in the transaction.
The multifamily sale at 917 6th Street, Santa Monica, California 90403, United States in Santa Monica, California sold for $5.5M in 2022. Reported inventory is 11 units across 11 units. Kimberly Stepp, Stepp Commercial appear on the sale alongside Stepp Commercial. This page is the Santa Monica, California file for the 917 6th Street, Santa Monica, California 90403, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Santa Monica sit in the Market section below. Filter that Santa Monica multifamily set by closing date to see what else sold near 917 6th Street, Santa Monica, California 90403, United States around 2022. Published consideration for 917 6th Street, Santa Monica, California 90403, United States is $5.5M, dated 2022. Cite this Kimberly Stepp With Stepp Commercial Sells 11-Unit Multifamily In Santa Monica For $5.5M sale when underwriting similar multifamily product around Santa Monica, California.
Santa Monica MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93