Press Releases
Marcus & Millichap Brokers $7.2M Sale of 22-Unit Multifamily Property in Santa Monica, California
November 06, 2026
SANTA MONICA, Calif., Nov. 6, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 2727 3rd St., a 22-unit multifamily property in Santa Monica, California. The property sold for $7.2 million, or $327,273 per unit.
"This was the first time the property had been brought to market since its construction in 1969, offering buyers an opportunity to acquire a multifamily asset in Santa Monica’s Ocean Park neighborhood,” said Aida Memary, associate director investments. “We received five signed offers within the first two weeks and secured a contract just 15 days after bringing the property to market, reflecting continued buyer interest in well-located Westside apartment buildings with renovation potential.”
Memary, Earle Hyman, Glen Scher and Filip Niculete, investment specialists in Marcus & Millichap’s Encino office, represented the seller, a private Santa Monica ownership group. The buyer was a private local investor.
Built in 1969, the 17,020-square-foot property is situated on a 0.36-acre parcel and consists of 20 one-bedroom, one-bathroom units and two two-bedroom, one-and-a-half-bathroom units. The two-story building features private balconies and patios in select units, along with 22 covered, gated parking spaces. Located in Santa Monica’s Ocean Park neighborhood, the property is located near Santa Monica State Beach and Main Street’s restaurants and retail. The buyer plans to renovate and upgrade units as they become available
"This was the first time the property had been brought to market since its construction in 1969, offering buyers an opportunity to acquire a multifamily asset in Santa Monica’s Ocean Park neighborhood,” said Aida Memary, associate director investments. “We received five signed offers within the first two weeks and secured a contract just 15 days after bringing the property to market, reflecting continued buyer interest in well-located Westside apartment buildings with renovation potential.”
Memary, Earle Hyman, Glen Scher and Filip Niculete, investment specialists in Marcus & Millichap’s Encino office, represented the seller, a private Santa Monica ownership group. The buyer was a private local investor.
Built in 1969, the 17,020-square-foot property is situated on a 0.36-acre parcel and consists of 20 one-bedroom, one-bathroom units and two two-bedroom, one-and-a-half-bathroom units. The two-story building features private balconies and patios in select units, along with 22 covered, gated parking spaces. Located in Santa Monica’s Ocean Park neighborhood, the property is located near Santa Monica State Beach and Main Street’s restaurants and retail. The buyer plans to renovate and upgrade units as they become available
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
