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
Building Size
—
Asset Type
MultiFamily
Closing
Jul 27, 2022
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.
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