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Elijah Rosenberg Acquires Industrial Property In San Diego For $3.6M

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SOLD
$3,600,000

California

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Industrial23,730 SF
Sold 01/10/2023
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Property Image
SOLD

Elijah Rosenberg Acquires Industrial Property In San Diego For $3.6M

1858 Newton Avenue

See Similar Deals
Industrial23,730 SF
Sold 01/10/2023
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Summary

CALIFORNIA
Asset Type:Industrial
Price Per Square Foot:$151
Total Square Footage:23,730 SF
Transaction Type:Sale

The industrial property located at 1858 Newton Avenue in San Diego has been sold in a recent transaction. The property spans over 23,730 square feet and was listed for an asking price of $3,700,000. Ultimately, the property was sold for $3,600,000, resulting in a price per square foot of $152.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $3,600,000
  • Address: 1858 Newton Avenue, San Diego
  • Square Footage: 23,730
  • Price per Square Foot: $152

Elijah Rosenberg was the buyer in this transaction, while Brad Bittner acted as the seller. Jake Plewa from Remax Commercial and Taksa Investment Group represented the buyer, and Tim Mills from CBRE acted as the seller's representative.

Players

5 deals$17.2M volume
BUYER

Details

SOLD
IMAGE: Jake Plewa DATE: 01/10/2023 ADDRESS: 1858 Newton Avenue MARKET: San Diego ASSET TYPE: Industrial BUYER: Elijah Rosenberg SELLER: Brad Bittner BUYER'S REP: Jake Plewa (@Jjplewa) - Remax Commercial (@Remax) & Taksa Investment Group (@TaksaInvestmentgroup) SELLER'S REP: Tim Mills - CBRE ASKING PRICE: $3,700,000 SALE PRICE: $3,600,000 SF: 23,730 ~ PPSF: $152

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$192,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04