Ray Rodriguez Acquires Multifamily Property In Santa Monica For $1.945M
SOLD
$1,945,000
California
See Similar DealsMultiFamily3,930 SF
Sold 02/19/2021
SOLD
Ray Rodriguez Acquires Multifamily Property In Santa Monica For $1.945M
920 Marine St, Santa Monica, CA, USA
See Similar DealsMultiFamily3,930 SF
Sold 02/19/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$494
Total Square Footage:3,930 SF
Transaction Type:Sale
A multifamily property located at 920 Marine St. in Santa Monica has been sold for $1,945,000. The property consists of four units, with a price per unit of $486,250. The total square footage is approximately 3,930, resulting in a price per square foot of $520. The sale of this property represents a cap rate of 4.13%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,945,000
- Units: 4
- Price Per Unit: $486,250
- Square Footage: 3,930
- Price Per Square Foot: $520
- Cap Rate: 4.13%
The sale of this property was facilitated by Ray Rodriguez from LucrumRE of KWCommercialSocal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,910.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,220.29
Annual Debt Service$110,643.51
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