facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

California

/

Development Site

/

Sale

/

8310 Poppy Ridge Road

CRP Affordable Housing & Community Development Acquires Development Site In Elk Grove For $3.3M
SOLDDevelopment Site

CRP Affordable Housing & Community Development Acquires Development Site In Elk Grove For $3.3M

8310 Poppy Ridge Road

$3,300,000

Building Size

Asset Type

Development Site

Closing

Aug 30, 2022

AI

The development site located at 8310 Poppy Ridge Road in Elk Grove has been sold for a price of $3,300,000. The buyer of the property is CRP Affordable Housing & Community Development, while the seller is The Suyenaga Family Trust represented by Michael Suyenaga. Alberto J. Guardado from Real Estate Collective Group served as the buyer's representative in this transaction.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $3,300,000
  • Address: 8310 Poppy Ridge Road, Elk Grove
  • Market: Elk Grove

Pardes Phase 1, a project with a total cost of $54,537,923, is set to begin construction in Q1 2024. The first phase will consist of 96 units, with phase 2 completing the remaining units to reach a total of 220. It's worth noting that Real Estate Collective Group played a pivotal role in acquiring over 1,000 developable units within a mile radius of Pardes. Currently, 607 units are under construction, all of which are LIHTC (Low-Income Housing Tax Credit) projects.

Players

Alberto J Guardado

Real Estate Collective Group (RECG)

Broker

$39.2M

vol

7 deals

Broker
CD
CRP Affordable Housing & Community DevelopmentBuyer

Elk Grove Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.81%

Cash-on-Cash

-1.37%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93