Cyrus & Emilia Investments Acquires Mixed-Use Building In San Diego's Gaslamp Quarter For $2.55M
534 Fifth Ave San Diego, CA 92101, USA
$2,550,000
$175/SF
Building Size
14,503 SF
Asset Type
Mixed-use
Closing
Apr 28, 2023
AI
Cyrus & Emilia Investments has purchased the Lincoln Hotel, a mixed-use building in the Gaslamp Quarter of San Diego, for $2.55 million. The property, located at 534-536 5th Ave., consists of El Cabron Restaurant on the ground floor and 41 affordable housing units on the upper levels. The buyer plans to renovate the affordable housing portion of the building.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,550,000
- Square Footage: 14,503 SF
- Price per Square Foot: $176
- Address: 534-536 5th Ave, San Diego
- Market: San Diego
Bill Shrader from Urban Property Group (UPG) represented the buyer, Cyrus & Emilia Investments, in this deal.
Players
Los Angeles Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93