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102 N Lemon Ave, Ontario, C...

Private Investor Acquires Property In Ontario For $35 Million With Seller's Reps Jim Fisher And Joe Leonardo
SOLDMultiFamily

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:

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

Jim Fisher

Compass

Broker

$384.4M

vol

7 deals

Broker

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