CRP Affordable Housing And Community Development 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 14, 2023
AI
The development site located at 1601 University Avenue in San Diego has been sold for a price of $8,500,000. The property offers great potential for future development and is situated in a prime location.
Summary of transation details
- Property Type: Development Site
- Transaction Amount: $8,500,000
- Address: 1601 University Avenue, San Diego
CRP Affordable Housing And Community Development has acquired the property from The Davis Family Trust, represented by Bob Davis. The deal was facilitated by Alberto J. Guardado of Real Estate Collective Group, who acted as the buyer's representative.
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