The Mogharebi Group Sells Multifamily Property In Costa Mesa For $12.2M
SOLD
$12,200,000
California
See Similar DealsMultiFamily
Sold 03/15/2022
SOLD
The Mogharebi Group Sells Multifamily Property In Costa Mesa For $12.2M
1032 West Wilson Street, Costa Mesa, California 92627, United States
See Similar DealsMultiFamily
Sold 03/15/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
Located in Costa Mesa, the multifamily property at 1032 W. Wilson St. has recently been sold in a closed transaction. The sale was facilitated by Brett Bayless from The Mogharebi Group. The property consists of 24 units, with each unit priced at an average of $508,000.
Summary of Transaction Details
- Property Type: Multifamily
- Sale Price: $12,200,000
- Units: 24
- Price Per Unit: $508,000
- Address: 1032 W. Wilson St., Costa Mesa
The involvement of Brett Bayless from The Mogharebi Group highlights the professional representation in this deal. The successful transaction demonstrates the strong market demand for multifamily properties in Costa Mesa.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$650,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,344.03
Cash-on-Cash Return-1.27%
Monthly Debt Service$57,834.22
Annual Debt Service$694,010.69
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