CBRE Represents Court-Appointed Receiver In $25.9M Sale Of 28-Unit Multifamily Property In Santa Monica

A 28-unit multifamily property located at 901 Ocean Avenue in Santa Monica, CA has been sold for $25,900,000. The asset spans a total area of 30,954 square feet, resulting in a price per unit of $925,000 and a price per square foot of $837.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $25,900,000
• Units: 28
• Square Footage: 30,954
• Price Per Unit: $925,000
• Price Per Square Foot: $837

The transaction was facilitated by brokers Priscilla Nee and Dan Blackwell of CBRE, who represented the court-appointed receiver in the court-supervised receivership sale. The acquisition was made by a local private investor as an all-cash transaction, which included the assumption of approximately $2.4 million in obligations.