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Progressive Real Estate Partners Sells 4.84 Acres Of Land In Upland For $6.5M By Buyer The Landmark Company
SOLD
$6,500,000
California
See Similar DealsLand
Sold 05/31/2023
SOLD
Progressive Real Estate Partners Sells 4.84 Acres Of Land In Upland For $6.5M By Buyer The Landmark Company
1400 E Arrow Hwy Upland, CA 91786, USA
See Similar DealsLand
Sold 05/31/2023
Summary
CALIFORNIA
Asset Type:Land
Transaction Type:Sale
Progressive Real Estate Partners has sold 4.84 acres of land located at 1400 East Arrow Highway in Upland, CA. The transaction, which took place on May 30, 2023, involved the sale of the property to The Landmark Company for a total price of $6,500,000 in an all-cash deal.
Summary of transaction details
- Property Type: Land
- Sale Price: $6,500,000
- Address: 1400 East Arrow Highway, Upland, CA
- Market: Upland
- Area: 4.84 acres
The Landmark Company, in collaboration with Century Communities, plans to develop the Rose Glen residential neighborhood on the acquired land. The neighborhood will consist of 64 single-family homes designed in Spanish Colonial and Santa Barbara architectural styles.
The sale was facilitated by Progressive Real Estate Partners, with Paul Galmarini and Chris Lindholm representing the buyer, The Landmark Company.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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