The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 11, 2017
 Search RENTV
   Go!
 Video Programs
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?





LOS ANGELES COUNTY NEWS
Printer-friendly Version   Email an Associate
Santa Monica Apartment Property Trades for $417k/Unit

10/11/17

A six-unit apartment property in a prime neighborhood next to Clover Park in Santa Monica has sold for $2.5 mil, or $417k/unit. The deal had a closing cap rate of 3.6%.

Built in 1948, the property islocated at 2450 Oak St, on a tree-lined residential street. The two-story property features six bungalow-style one-bedroom units and private garages. It was recently improved with a new roof and plumbing.

Kimberly R. Stepp with Stepp Commercial represented the seller, a Los Angeles-based family trust, as well as the buyer, Landmark Villas West LLC.

“This property sold for full list price and at a strong price per square foot of $700,” said Stepp. “The buyer opted to put 20 percent down and use seller financing, as it was an attractive option. He plans on upgrading and leasing the vacant units to add immediate value.”




Return to the previous page


 


 


 
The Foto Finisher

 
 





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2017 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media