Developer Acquires Mixed-Use Property In Upland, CA For $5.2M
SOLD
$5,200,000
California
See Similar DealsMixed-use110,018 SF
Sold 03/19/2021
SOLD
Developer Acquires Mixed-Use Property In Upland, CA For $5.2M
167 South Sultana Avenue, Upland, CA, USA
See Similar DealsMixed-use110,018 SF
Sold 03/19/2021
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$47
Total Square Footage:110,018 SF
Transaction Type:Sale
A mixed-use property located at 167 Sultana Street in Upland, CA was recently sold for $5,200,000. The property spans a total of 110,018 square feet, resulting in a price per square foot of $47. The sale took place on March 19, 2021, and was facilitated by Benji Gribnau, Leor Binshtock, and Jake Zacuto.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $5,200,000
- Square Footage: 110,018 sqft
- Price per Square Foot: $47
- Address: 167 Sultana Street
- Market: Upland
The buyer, who is a developer working through entitlements, plans to construct 140 luxury multifamily units in the thriving and up-and-coming area of Upland, CA. This purchase presents a significant opportunity for further development in this dynamic market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$277,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83
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