Three-Property Apartment Portfolio in Santa Monica, CA Trades Hands for $28.5 Million

Three-property apartment portfolio sale in Santa Monica, CA
The properties are 1033 3rd Street,  811 6th Street  and 1137 11th Street

Michael Hanassab

SANTA MONICA, CA, Feb. 11, 2014 – Marcus & Millichap, the nation’s largest real estate investment services firm, has arranged the sale of a 66-unit, three-property multifamily portfolio in Santa Monica, Calif.

 The properties are 1033 3rd St., 811 6th St. and 1137 11th St. The total sales price for all three properties is $28,500,000, which equates to $432,000 per unit.

            Michael Hanassab and Elliot Hassan, associates in the firm’s Los Angeles office, represented the buyer, a private investor.

Elliot Hassan

            “All three buildings have been renovated and were in turn-key condition at the time of the sale,” says Hanassab. “The properties are all north of Wilshire Boulevard in Santa Monica’s most prime multifamily submarket.”

            The property at 1033 3rd St. contains 32 units and was built in 1970. The building at 811 6th St. features 23 units and was constructed in 1972. The 11-unit 1137 11th St. property was built in 1963.

For a complete copy of the company’s new release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716