Updated Oct 29, 2024
Afton Properties Acquires Residential Property In Canyon Crest, Riverside For $122M
600 Central Avenue, Riverside, CA, USA
$122,000,000
$22,410/SF
Building Size
5,444 SF
Asset Type
Co-Op
Closing
Jan 9, 2019
About this deal
AI
The residential property located at 600 Central Avenue in Canyon Crest, Riverside, was recently sold. The transaction took place on January 10, 2019. The property is owned by Afton Properties, and the sale was facilitated by broker Seth Grossman from Meridian Capital Group. The sale price for this property was not provided in the available information.
Summary of transaction details:
- Property Type: Residential
- Sale Date: 01/10/2019
- Address: 600 Central Avenue, Canyon Crest, Riverside
- Market: Canyon Crest, Riverside
The lender for this transaction was Capital One Multifamily Finance. They provided a loan amount of $122,000,000 for a term of 10 years. The property consists of 36 two-story buildings, offering a total of 288 spacious units ranging from one to three bedrooms.
Alvista Canyons, the residential property at 600 Central Avenue, offers a range of housing options and is a significant investment opportunity in the Canyon Crest market in Riverside.
Players
Riverside Co-Op Market Snapshot
Boundary boundary · Co-Op · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93