Santa Monica, CA – Eric von Bluecher, with Lee & Associates-North San Diego County’s Multifamily Advisory Group, has completed the investment sale of a 6-unit multifamily building at 1326 Yale, in Santa Monica, CA.  The property featured two vacant units, providing an outstanding value-add investment opportunity for the buyer.

The property sold at a cap of 3.55% on current rents and 6.28% cap on market rents, which is the 7^th-lowest reported cap rate in Santa Monica over the last twelve months.

The buyer will benefit with nearly 44% upside in rents, two units immediately available for renovation, multiple storage units available for additional income, and a low price-per-foot of $435.

Eric von Bluecher represented the Seller, PI Properties, and the Buyer, AMDG Yale Properties, LLC, in the transaction.

ABOUT LEE & ASSOCIATES
Lee & Associates is a commercial real estate brokerage, management, and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment, and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog.