Updated Oct 28, 2024
The Core Companies Acquires Development Site In Downtown San Jose For $18.2M
470 South Market Street, San Jose, California 95113, United States
$18,200,000
Units
300
Asset Type
Development Site
Closing
Apr 18, 2022
About this deal
AI
Located at 470 S. Market Street in Downtown San Jose, this property is a development site that was recently sold. The sale took place on April 19, 2022, for a total price of $18,200,000. The property consists of 300 units, with an average price per unit of $60,666. The transaction was completed by The Core Companies, represented by David & Chris Neale.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $18,200,000
- Address: 470 S. Market Street, Downtown San Jose
- Units: 300
- Price per Unit: $60,666
- Buyer: The Core Companies - David & Chris Neale
The Core Companies, led by David & Chris Neale, successfully acquired the development site located at 470 S. Market Street. This deal marks another milestone for The Core Companies as they continue to expand their portfolio in the Downtown San Jose market.
Players
San Jose 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
0.87%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93