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John Vojtech Acquires Santa Monica Multifamily For $2.7M

2224 Oak Street
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This MultiFamily property located in CA was sold for $2,700,000 over 2 years ago. The brokers of the deal were Aida Memary Scher, Sam Liberow, Glen Scher, and Filip (Fil) Niculete

Located in Santa Monica at 2224 Oak Street, this multifamily property was recently sold in a closed transaction. The property consists of 6 units spanning a total of 3,590 square feet. Built in 1937 and renovated in 2021, this property offers a desirable living space in 90405.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Units: 6
  • Price per Unit: $450,000
  • Square Footage: 3,590
  • Price per Square Foot: $752
  • GRM: 16.99x
  • CAP: 3.84%

The buyer, John Vojtech, acquired the property from the seller, James Russell Gortikov. The transaction was facilitated by brokers Filip Niculete, Glen Scher, Aida Memary Scher (LAAA Team), and Sam Liberow (Liberow Group) of Marcus & Millichap. Their expertise and guidance played a crucial role in the successful completion of this sale.

This transaction reflects a strong market value, with a price per square foot of $752 and a price per unit of $450,000. The property's capitalization rate stands at 3.84%, indicating a favorable return on investment. Furthermore, the gross rent multiplier (GRM) for this property is 16.99x, underlining its financial viability in the market.

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Deals
  • Location
    2224 Oak Street, Santa Monica, CA 90405, USA2224 Oak Street, Santa Monica, CA 90405, USA
  • Sale Price
    $2,700,000$2,700,000
    $752 PPSF$752 PPSF
  • Area
    3,590 SF3,590 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Glen Scher

Glen Scher

Deals161
Sold$624.5M

Agency

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

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Deal Summary

SALE IMAGE: Glen Scher, Filip Niculete, Aida Memary Scher & Sam Liberow DATE: 10/13/2021 ADDRESS: 2224 Oak Street MARKET: Santa Monica ASSET TYPE: Multifamily BUYER: John Vojtech SELLER: James Russell Gortikov BROKERS: Filip Niculete (@FNiculete), Glen Scher (@ScherGlen) & Aida Memary Scher (@IdaChiller) (LAAA Team) (@LAAATeam) & Sam Liberow (@Sam_Liberow) (Liberow Group) (@TheLiberowGroup) - Marcus & Millichap SALE PRICE: $2,700,000 UNITS: 6 ~ PPU: $450,000 SF: 3,590 ~ PPSF: $752 GRM: 16.99x CAP: 3.84% NOTE: 6 Units. Santa Monica. 90405 Selling Numbers $752 per SqFt. $450k per Unit 3.84% CAP. 16.99 GRM Built in 1937. 2021 Renovated

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2224 Oak Street

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