Marcus & Millichap Sells Glendora Property For $14.2 Million With David Covarrubias And Douglas McCauley As Seller's Reps
SOLD
$14,200,000
California
See Similar DealsMixed-use
SOLD
Marcus & Millichap Sells Glendora Property For $14.2 Million With David Covarrubias And Douglas McCauley As Seller's Reps
618 W Route 66, Glendora, CA, 91740
See Similar DealsMixed-use
Summary
CALIFORNIA
Asset Type:Mixed-use
Transaction Type:Sale
The property involved in this transaction is the Royal Palms Apartments & Professional Building, situated at 618 W Route 66, Glendora, CA, 91740. This mixed-use property was sold for $14,200,000.00 and encompasses a total area of 43,292 square feet. The building features 28 commercial suites and 48 residential apartments, offering studio and one-bedroom floor plans. Constructed in 1962, it serves both commercial and residential purposes, contributing to the area's market dynamics.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $14,200,000.00
- Address: 618 W Route 66, Glendora, CA, 91740
- Market: Glendora
- Seller's Representative: David Covarrubias, Douglas McCauley - Marcus & Millichap
- Buyer: Undisclosed
- Square Footage: 43,292
Douglas McCauley and David Covarrubias from Marcus & Millichap’s Inland Empire office represented the seller in this transaction. The buyer remains undisclosed, maintaining confidentiality in the sale process. This transaction reflects the activity of a limited liability company in the real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$757,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,449.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,315.24
Annual Debt Service$807,782.93
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