18 Jan Apartment Buildings Sold in Santa Monica and Venice

Recent sales metrics including GRM, CAP Rates, Price Per Square Foot and Price Per Unit of apartment buildings sold in Marina del Rey, Santa Monica, Pacific Palisades and Venice Beach. Please click this link for a copy of the newsletter AQ-Santa Monica Venice.

Santa Monica Apartment Building Sales 
October-December 2015

Summary
According to reports pulled from CoStar® analytics of 5 to 20 unit multifamily sales, Sales Volume in Santa Monica was down slightly from 2014 which registered at approximately $145 million, 2015 came in right at about $140 million, although when looking at 2013 Sales Volume of approximately $90 million, sales activity was still about $50 million higher than two years ago. The Average Sales Price per Unit increased from $280,000 in 2013 to $350,000 in 2014 and $370,000 in 2015. Average Cap Rates also saw a similar trend dropping from an average of 4.4% in 2013 to 3.7% in 2014 and 3.6% in 2015.

Venice Apartment Building Sales
October-December 2015

Summary
According to reports pulled from CoStar® analytics of 5 to 20 unit multifamily sales, Sales Volume in Venice/MdR nearly tripled from 2014 which was approximately $15 million up to $45 million in 2015 (approx $11 million in 2013). The Average Sales Price Per Unit increased from $260,000 in 2013 to $380,000 in 2014 and down to $350,000 in 2015. Average Cap Rates also saw a similar trend dropping from an average of 4.4% in 2013 to 3.8% in 2014 and flat for 2015 coming in at 3.8%.

Contact Eric M-F 9-6 for a complimentary evaluation of your portfolio 310-774-3726

Eric M von Bluecher
(310) 774-3726 office
(310) 900-9505 cell
eric@prosserstevens.com
BRE#01926201