Updated Oct 28, 2024
Carmel Partners Acquires San Jose Multifamily Property With $40M Loan From PCCP LLC
138 Balbach Street, San Jose, CA, USA
$40,000,000
$21,586/SF
Building Size
1,853 SF
Asset Type
MultiFamily
Closing
Oct 28, 2021
About this deal
AI
A multifamily property located at 138 Balbach Street in San Jose was recently involved in a closed transaction. The property spans across 1.5 acres and consists of 101 units. The transaction took place on October 28, 2021, with Carmel Partners serving as the landlord.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 138 Balbach Street
- Market: San Jose
- Units: 101
- Acres: 1.5
PCCP LLC, represented by Matt Cochran, provided a loan for the acquisition of the property. The loan amounts to $40,000,000 and is categorized as an acquisition loan.
Players
San Jose MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93