Theo Oliphant Acquires Multifamily Property On Ocean Avenue In Santa Monica For $9M
SOLD
$9,000,000
California
See Similar DealsMultiFamily7,876 SF
Sold 08/27/2021
SOLD
Theo Oliphant Acquires Multifamily Property On Ocean Avenue In Santa Monica For $9M
927 Ocean Avenue, Santa Monica, CA 90403, USA
See Similar DealsMultiFamily7,876 SF
Sold 08/27/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,142
Total Square Footage:7,876 SF
Transaction Type:Sale
Located at 927 Ocean Avenue in Santa Monica, this multifamily property was recently sold in a closed transaction. The property spans a total area of 7,876 square feet and is characterized by its prime location in the Santa Monica market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
- Address: 927 Ocean Avenue
- Market: Santa Monica
Theo Oliphant successfully acquired the property from Jeffrey Appel in this sale transaction. The deal was facilitated by Jonathan Taksa from Taksa Investment Group, who represented the buyer and seller throughout the negotiation process.
The sale price for this transaction amounted to $9,000,000, resulting in a price per square foot of $1,142. The property's sale represents a significant investment opportunity in the Santa Monica multifamily market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$480,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,975.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$42,664.59
Annual Debt Service$511,975.10
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