Iconic Closes Beverley Apartments

Iconic is pleased to announce the sale of Beverley Apartments
located at 2400 Beverley Ave in Santa Monica.

► Sold for $8,500,000 | $472,000/Unit | $418/Square Foot

► Prime Santa Monica Location

► Built and Sold by the Original Developer – 57+ years

► Built in 1962 – Unit Mix of 2 & 3 Bedroom Units

► In-Place CAP Rate of 3.37% – GRM of 19.05

THE SELLER was the original developer who built the property in 1962. Property was sold by the trust.

THE BUYER was a large operator in the area who completed their 1031 Exchange.