CRP Affordable Housing And Community Development Acquires Development Site In San Diego For $8.5M
SOLD
$8,500,000
California
See Similar DealsDevelopment Site18,828 SF
Sold
SOLD
CRP Affordable Housing And Community Development Acquires Development Site In San Diego For $8.5M
1601 University Avenue
See Similar DealsDevelopment Site18,828 SF
Sold
Summary
CALIFORNIA
Asset Type:Development Site
Price Per Square Foot:$451
Total Square Footage:18828 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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