Updated Sep 5, 2024
Marcus & Millichap Capital Corporation Facilitates $4.2M Refinance Loan For Highland Pacifica Apartments In National City
2428 Highland Ave National City, Ca 91950, Usa
$4,200,000
Units
17
Asset Type
MultiFamily
Closing
Jun 13, 2023
About this deal
AI
The newly constructed Highland Pacifica Apartments in National City, California have been refinanced with the assistance of Marcus & Millichap Capital Corporation (MMCC). The 17-unit multifamily property, located at 2428 Highland Avenue, is conveniently situated between Downtown San Diego and Downtown Chula Vista.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,200,000
- Units: 17
- BROKERS: Kevin Elliott & Chad O’Connor - Marcus & Millichap Capital Corporation
- Date: 06/13/2023
- Market: National City
The loan amount of $4.2 million was secured for the refinancing of Highland Pacifica Apartments. Kevin Elliott and Chad O’Connor from Marcus & Millichap Capital Corporation represented the parties involved in the transaction.
On the Map
$4,200,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93