David Back Purchases Mixed-Use Property At 320 North Milpas Street From Constantino Frangos For $1.9M
SOLD
California
See Similar DealsMixed-use4,400 SF
Sold 11/20/2024
SOLD
David Back Purchases Mixed-Use Property At 320 North Milpas Street From Constantino Frangos For $1.9M
320 North Milpas Street
See Similar DealsMixed-use4,400 SF
Sold 11/20/2024
Summary
CALIFORNIA
Asset Type:Mixed-use
Price Per Square Foot:$431
Total Square Footage:4,400 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$101,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63
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