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| Kimberly Roberts Stepp |
LOS ANGELES, CA – Charles
Dunn Company, one of the largest full-service regional real estate firms in the
western United States, has completed the $6 million sale of a 20-unit
multifamily property located at 1027-1033 20th Street in Santa Monica, Calif.
Kimberly Roberts Stepp,
senior managing director with Charles Dunn Company, represented the seller,
Santa Monica-based Eisen, LLC, as well as the buyer, Los Angeles-based 1027
ENA, LLC. The transaction closed at a 3.7 percent cap rate.
Built in 1956, the property
is located in a prime location north of Wilshire and just two blocks south of
the prestigious Montana Ave.
It includes two, three-bedroom/two-bathroom units;
12, two-bedroom/one-bathroom units; and six, one-bedroom/one-bathroom units.
“This property offered the
buyer excellent upside potential as the rents were 67 percent below market
rates,” said Stepp.
For a complete copy
of the company’s news release, please contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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