Updated Oct 29, 2024
F&F Properties Acquires Hawaiian Gardens Multifamily In Imperial Beach For $19M
1031 Imperial Beach Blvd Imperial Beach, CA 91932, USA
$19,000,000
Units
64
Asset Type
MultiFamily
Closing
Jun 27, 2023
About this deal
AI
Hawaiian Gardens, a 64-unit apartment property located at 1031 Imperial Beach Boulevard in Imperial Beach, has been sold for $19,000,000. The transaction was facilitated by Tom McCartin from Marcus & Millichap on behalf of the buyer, F&F Properties. The property is a multifamily asset and is situated in the Imperial Beach market.
Summary of Transaction Details:
- Property Type: Multifamily
- Sale Price: $19,000,000
- Units: 64
- Price Per Unit (PPU): $296,875
F&F Properties, represented by Tom McCartin of Marcus & Millichap, acquired Hawaiian Gardens in Imperial Beach. The buyer has plans to conduct significant renovations to enhance the rental housing market in the area. This transaction signifies their commitment to invest in and improve the property's value and appeal.
On the Map
$19,000,000
MultiFamily
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Los Angeles 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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93