Updated Dec 7, 2024
David Back Purchases Mixed-Use Property At 320 North Milpas Street From Constantino Frangos For $1.9M
320 North Milpas Street
$1,900,000
$431/SF
Building Size
4,400 SF
Asset Type
Mixed-use
Closing
Nov 20, 2024
About this deal
AI
The property involved in this transaction is a mixed-use asset located at 320 North Milpas Street in the Santa Barbara market. The sale was completed at a price of $1,900,000 for a total square footage of 4,400, resulting in a price per square foot of $431.
Summary of transation details:
- Property Type: Mixed-use
- Transaction Amount: $1,900,000
- Address: 320 North Milpas Street
- Market: Santa Barbara
- Square Footage: 4,400
- Price per Square Foot: $431
- Buyer: David Back
- Seller: Constantino Frangos
- Brokers: Andrew Leff & Mark Cianciulli - The CREM Group
Key individuals in this transaction include the buyer David Back and the seller Constantino Frangos. The transaction was facilitated by the brokerage team of Andrew Leff and Mark Cianciulli, who represented the seller in the deal.
On the Map
$1,900,000
$431/SF
Mixed-use
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Players
Santa Barbara Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93