10 Units | Santa Monica | Record Sale
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This successful sale of a 10-unit multifamily property located at 1434 10th st, just outside of Downtown Santa Monica.
This impressive sale has cemented itself into the all-time record books for it's extremely high price per unit and price per SqFt. These nearly best ever numbers were made possible by the seller professionally renovating 9 of the 10 units, allowing us to sell a near turn-key property with very high in-place rental income which gave the buyer a great CAP rate of 4.82% from day 1.
With the unmatched marketing platform that Marcus & Millichap has to offer its clients, we were able to source the buyer through another agent of M&M that sits in our Encino office with us, but is not on either the LAAA Team or The Liberow Group. Our colleague represented the perfect first time buyer who was looking for very well located, easy to manage, and mostly stabilized multifamily properties. This one fit the bill perfectly.
Lastly, this property was previously listed by two different companies before us, and both of them were unable to get it sold after months of marketing. The seller ultimately hired the LAAA Team and The Liberow Group as co-listing teams, and we were able to get the deal sold with the help of yet another Marcus & Millichap team led by Matt Ziegler. In total, this sale was a collaboration of 3 separate M&M teams, and through this collaboration we were able to achieve one of the best sale prices ever in this zip code of Santa Monica.
To learn more about this sale, or for a complimentary pricing and/or 1031 exchange analysis on your multifamily property, please give us a call today!
This successful sale of a 10-unit multifamily property located at 1434 10th st, just outside of Downtown Santa Monica.
This impressive sale has cemented itself into the all-time record books for it's extremely high price per unit and price per SqFt. These nearly best ever numbers were made possible by the seller professionally renovating 9 of the 10 units, allowing us to sell a near turn-key property with very high in-place rental income which gave the buyer a great CAP rate of 4.82% from day 1.
With the unmatched marketing platform that Marcus & Millichap has to offer its clients, we were able to source the buyer through another agent of M&M that sits in our Encino office with us, but is not on either the LAAA Team or The Liberow Group. Our colleague represented the perfect first time buyer who was looking for very well located, easy to manage, and mostly stabilized multifamily properties. This one fit the bill perfectly.
Lastly, this property was previously listed by two different companies before us, and both of them were unable to get it sold after months of marketing. The seller ultimately hired the LAAA Team and The Liberow Group as co-listing teams, and we were able to get the deal sold with the help of yet another Marcus & Millichap team led by Matt Ziegler. In total, this sale was a collaboration of 3 separate M&M teams, and through this collaboration we were able to achieve one of the best sale prices ever in this zip code of Santa Monica.
