Updated Dec 4, 2024
CRP Affordable Housing Acquires Development Site In San Diego For $8.5M
1601 University Avenue
$8,500,000
$451/SF
Building Size
18,828 SF
Asset Type
Development Site
Closing
Nov 28, 2023
About this deal
AI
A development site located at 1601 University Avenue in San Diego has recently been sold in a closed transaction. The property, with a size of 18,828 square feet, was sold for an amount of $8,500,000, resulting in a price per square foot of $451. The transaction took place on November 28, 2023.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,500,000
- Address: 1601 University Avenue, San Diego
- Market: San Diego
CRP Affordable Housing acted as the buyer in this transaction, while the seller was Davis Family Trust - Bob and Linda Davis. The buyer's representative in the deal was Alberto J. Guardado from Real Estate Collective Group. On the other hand, the seller was represented by Nick Totah and Ross Sanchez from Marcus & Millichap.
On the Map
$8,500,000
$451/SF
Development Site
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Players
San Diego Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93