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919 20th St, Santa Monica, ...

Updated Oct 29, 2024

Private Investor Acquires MultiFamily In Santa Monica For $2.7M
SOLDMultiFamily

Private Investor Acquires MultiFamily In Santa Monica For $2.7M

919 20th St, Santa Monica, CA, 90403

$2,700,000

Building Size

—

Asset Type

MultiFamily

Closing

Aug 25, 2016

About this deal

AI

The property involved in the transaction is a fully occupied, six-unit apartment building located at 919 20th St in Santa Monica, CA, 90403. The asset, a bungalow-style property, consists of three two-bedroom units and three one-bedroom units on a lot spanning over 8,000 square feet. The deal closed for a total price of $2.7 million, reflecting a price of $450,000 per unit. The sale transpired on August 25, 2016, in Santa Monica market.

Summary of transaction details:

Principal Kimberly Roberts Stepp from Stepp Commercial acted as the representative for both the seller, Devlaur LLC, based in LA, and the buyers, private investors from San Diego. The deal was finalized at a cap rate of 3.4%, showcasing a successful transaction between interested parties in the real estate market.

On the Map

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$2,700,000

MultiFamily

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Players

Kimberly Stepp

Stepp Commercial

Broker

$58.8M

vol

14 deals

Broker
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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

5.88%

Cash-on-Cash

-1.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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