MK Management Group Acquires 0.72-Acre Land In Carlsbad's La Costa Neighborhood For $2.5M
Romeria St Carlsbad, CA 92009
$2,500,000
Building Size
—
Asset Type
Land
Closing
Jul 18, 2023
AI
A 0.72-acre land located on Romeria Street in Carlsbad's La Costa neighborhood has been sold for $2.5 million. The property, entitled for a 23-apartment complex, is expected to become an iconic landmark in the community.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $2,500,000
- Address: Romeria Street
- Market: Carlsbad
- Size: 0.72 acres
MK Management Group, LLC has acquired the land from BNR Investment & Development, LLC. The transaction was facilitated by Aaron Bove of Marcus & Millichap, who represented both the buyer and the seller in the deal.
Players
Los Angeles Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93