Valiance Capital Acquires Student Housing In Berkeley For $11.8M From Seller Gai Family
SOLD
$11,800,000
California
See Similar Deals19 SF
Sold 11/23/2022
SOLD
Valiance Capital Acquires Student Housing In Berkeley For $11.8M From Seller Gai Family
2430 Prospect Street, Berkeley, California 94704, United States
See Similar Deals19 SF
Sold 11/23/2022
Summary
CALIFORNIA
Price Per Square Foot:$621,052
Total Square Footage:19 SF
Transaction Type:Sale
The student housing property located at 2430 Prospect St in Berkeley, CA has been sold for a total price of $11,800,000. The transaction took place on 11/23/2022. The property spans a total area of 19,188 square feet, resulting in a price per square foot of $615. It consists of 27 units, with an average price per unit of $437,037.
Summary of transaction details
- Property Type: Student Housing
- Transaction Amount: $11,800,000
- Address: 2430 Prospect St, Berkeley, CA
- Market: Berkeley, CA
- Buyer: Valiance Capital - Nhan Nguyen Le
- Seller: Gai Family
- Broker: Ryan Rodriquez - Colliers International
Nhan Nguyen Le from Valiance Capital represented the buyer in this transaction. The seller was the Gai Family. Colliers International, represented by Ryan Rodriquez, acted as the broker for this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$629,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,922.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,938.02
Annual Debt Service$671,256.24
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