Private Investor Acquires Property In Ontario For $35 Million With Seller's Reps Jim Fisher And Joe Leonardo
102 N Lemon Ave, Ontario, CA, 91764
$35,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
The Metro 102 Apartments, located at 102 N Lemon Ave, Ontario, CA 91764, has been acquired for $35 million. This affordable apartment community features 160 units and was built in 2009, situated on a podium garage. The property is 98 percent occupied and offers amenities such as a resident lounge, swimming pool, courtyard, gym, and pool table.
Summary of transation details:
- Property Type: Apartment Community
- Transaction Amount: $35,000,000.00
- Address: 102 N Lemon Ave, Ontario, CA 91764
- Market: Ontario
- Seller's Representative: Jim Fisher - Compass, Joe Leonardo - Joseph C. Leonardo & Co.
- Buyer: Private Investor
The transaction involved Jim Fisher, Mike Smith, and Joe Leonardo, who represented the seller, TruAmerica Multifamily, highlighting the collaboration of these representatives in this closed deal.
Players
Ontario MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.45%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93