ColRich Acquires Multifamily Property In Escondido, CA For $86M
SOLD
$86,000,000
California
See Similar DealsMultiFamily
Sold 05/12/2022
SOLD
ColRich Acquires Multifamily Property In Escondido, CA For $86M
1051 West El Norte Parkway, Escondido, California 92026, United States
See Similar DealsMultiFamily
Sold 05/12/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1051 W El Norte Pkwy in Escondido, CA has been sold for a total price of $86,000,000. The transaction took place on 12/05/2022 and involved 236 units, resulting in a price per unit of $364,407. The property was acquired by ColRich from the seller GW Williams.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $86,000,000
- Units: 236
- Price Per Unit: $364,407
- Buyer: ColRich
- Seller: GW Williams
- Brokers: Hunter Combs, Mark Grace & John Montakab - Walker & Dunlop
- Date: 12/05/2022
- Address: 1051 W El Norte Pkwy, Escondido, CA
The deal was facilitated by the brokers Hunter Combs, Mark Grace, and John Montakab from Walker & Dunlop. They represented the buyer and seller in the transaction, ensuring a smooth and successful deal for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$305,539.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$407,683.88
Annual Debt Service$4,892,206.50
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