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| Kimberly R. Stepp |
Los Angeles,
CA – Stepp Commercial, a leading multifamily brokerage firm in the Los Angeles
market, has completed the nearly $2.85 million sale of a fully occupied
six-unit property located at 1141 19th Street in Santa Monica.
Kimberly R. Stepp and Aynsley
Armbrust with Stepp
Commercial represented the seller, The Credit Shelter Trust, and. Stepp
represented the buyer, Nina Property Management. The transaction closed at a cap rate of just
3.4 percent and at a price per unit of $451,250.
“This
property is in a prime north of Wilshire location and offers the buyer an 87
percent potential upside in rents, and an excellent unit mix,” said Stepp.
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| Aynsley Armbrust |
Built in
1973, the two-story property consists of a mix of two- and three-bedroom
townhouse units. The units feature en suite bathrooms, fireplaces, hardwood
floors, tiled kitchens and baths, Caesarstone countertops, and private patios
and garages.
Stepp
Commercial is a brokerage firm specializing in the multifamily sector for
properties ranging in size from $1 million to $50 million.
Stepp
Commercial’s mission is to provide apartment owners with a fully integrated
sales platform that includes comprehensive market knowledge and local real
estate expertise to successfully complete any type of multifamily transaction.
For more information, please visit www.steppcommercial.com
For a complete copy of the company’s news release,
please contact:
Darcie
Giacchetto
949.278.6224
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