SDG Housing Partners Acquires San Pedro Residential Complex For $62.9M
SOLD
$62,900,000
California
See Similar DealsCo-Op191,424 SF
Sold
SOLD
SDG Housing Partners Acquires San Pedro Residential Complex For $62.9M
1301 West Park Western Drive, San Pedro, CA 90732, USA
See Similar DealsCo-Op191,424 SF
Sold
Summary
CALIFORNIA
Asset Type:Co-Op
Price Per Square Foot:$328
Total Square Footage:191,424 SF
Transaction Type:Sale
The Residential Complex located at 1301 W Park Western Dr in San Pedro has been sold for a total price of $62,900,000. The buyer, SDG Housing Partners, acquired the property from Park Western Apartments. The transaction was facilitated by brokers Joe Leon and Bruce Furniss from Berkadia.
Summary of transation details
- Property Type: Residential Complex
- Transaction Amount: $62,900,000
According to Bruce Furniss, the buyer plans to invest $50,000 per unit.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,354,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$223,470.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$298,178.09
Annual Debt Service$3,578,137.08
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