REBusinessOnline

Marcus & Millichap Negotiates $8M Sale of Apartment Building in Santa Monica

2647-6th-St-Santa-Monica-CA

Located at 2647 6th St. in Santa Monica, Calif., the apartment building features 24 units in a mix of studio, one- and two-bedroom layouts.

SANTA MONICA, CALIF. — Marcus & Millichap has directed the sale of 2647 6th Street, a 24-unit multifamily property located in Santa Monica. A private investor sold the asset to another private investor for $8 million in an all-cash transaction.

David O’Keefe and Steve Bogoyevac of Marcus & Millichap represented the seller and buyer in the deal.

Built in 1968, the building was converted to condominiums via Tenant Ownership Rights Charter Amendment (TORCA), but is currently operating as an apartment building. The property features four studios, 19 one-bedroom units and four two-bedroom units.

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