Kimberly Stepp With Stepp Commercial Sells 11-Unit Multifamily In Santa Monica For $5.5M
SOLD
$5,500,000
California
See Similar DealsMultiFamily
Sold 07/28/2022
SOLD
Kimberly Stepp With Stepp Commercial Sells 11-Unit Multifamily In Santa Monica For $5.5M
917 6th Street, Santa Monica, California 90403, United States
See Similar DealsMultiFamily
Sold 07/28/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$293,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,540.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,072.81
Annual Debt Service$312,873.67
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