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Santa Monica Multifamily Sells For $2.052M With Marcus & Millichap As Brokers

2416 20th Street
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This MultiFamily property located in CA was sold for $2,052,000 about 5 years ago. The brokers of the deal were Aida Memary Scher, Rick Ramirez, Glen Scher, and Filip (Fil) Niculete

Located at 2416 20th St. in Santa Monica, this multifamily property recently changed hands in a sale transaction. The property consists of 5 units, offering a total of 3,076 square feet of space. The sale price for this property was $2.052 million, resulting in a price per square foot of $667. The per unit price was approximately $410,400. The capitalization rate for this property was 4.50%, while the gross rent multiplier was 15.18. This transaction was facilitated by Marcus & Millichap, with brokers Filip Niculete, Glen Scher, Rick Ramirez, and Aida Memary representing the parties involved.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2.052 million
  • Address: 2416 20th St., Santa Monica
  • Market: Santa Monica
  • Square Footage: 3,076
  • Price per Square Foot: $667
  • Number of Units: 5
  • Price per Unit: $410,400
  • Capitalization Rate: 4.50%
  • Gross Rent Multiplier: 15.18

The sale of this multifamily property was successfully facilitated by the team at Marcus & Millichap, specifically, brokers Filip Niculete, Glen Scher, Rick Ramirez, and Aida Memary, who represented the parties involved in the transaction.

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Deals
  • Location
    2416 20th Street, Santa Monica, CA 90405, USA2416 20th Street, Santa Monica, CA 90405, USA
  • Sale Price
    $2,052,000$2,052,000
    $667 PPSF$667 PPSF
  • Area
    3,076 SF3,076 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 2 Agencies4 Brokers, 2 Agencies

Agents

Glen Scher

Glen Scher

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Sold$624.5M

Agencies

Marcus & Millichap

Marcus & Millichap

Agency
Deals6999
Volume$66B

Ally Commercial Real Estate

Ally Commercial Real Estate

Agency
Deals77
Volume$406.1M

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Deal Summary

SALE IMAGE: Filip Niculete, Glen Scher, Aida Memary & Rick Ramirez DATE: 02/12/2019 ADDRESS: 2416 20th St. MARKET: Santa Monica ASSET TYPE: Multifamily PRICE: $2.052M SF: 3,076 / PPSF: $667 UNITS: 5 / PPU: $410,400 CAP: 4.50% / GRM: 15.18 BROKERS: Filip Niculete, Glen Scher, Rick Ramirez & Aida Memary - Marcus & Millichap @laapartmentadvisors

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2416 20th Street

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