Updated Dec 19, 2023
Northmarq Brokers Secure $10.5M Loan For Self Storage Property In Riverside, CA
6289 Palm Avenue, Riverside, California 92506, United States
$10,500,000
Building Size
—
Asset Type
—
Closing
Oct 10, 2022
About this deal
AI
Located at 6289 Palm Avenue in Riverside, CA, this self-storage facility was recently involved in a closed transaction. The property is characterized by its convenient location and serves as a valuable asset in the market.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $10,500,000
- Loan Terms: 15-year loan, interest-only payments, followed by a 30-year amortization
- Brokers: Wyatt Campbell & Aaron Beck representing Northmarq
Wyatt Campbell and Aaron Beck from Northmarq played integral roles in this transaction. Their expertise and professionalism contributed to the successful closing of this deal.
On the Map
$10,500,000
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Players
Riverside CRE Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.51%
Cash-on-Cash
-0.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93