Henry Manoucheri's Universe Holdings Acquires Multifamily In Ventura, CA For $12.55M
SOLD
$12,550,000
California
See Similar DealsMultiFamily34,819 SF
Sold 09/23/2022
SOLD
Henry Manoucheri's Universe Holdings Acquires Multifamily In Ventura, CA For $12.55M
10829 Del Norte Street
See Similar DealsMultiFamily34,819 SF
Sold 09/23/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$360
Total Square Footage:34,819 SF
Transaction Type:Sale
A multifamily property located at 10829 Del Norte St in Ventura, CA has been sold in a closed transaction. The property consists of 34 units with a total square footage of 34,819. The sale price for the property was $12,550,000, resulting in a price per unit of $369,118 and a price per square foot of $360.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,550,000
- Address: 10829 Del Norte St, Ventura, CA
- Units: 34
- Price per Unit: $369,118
- Square Footage: 34,819
- Price per Square Foot: $360
The buyer of the property was Henry Manoucheri from Universe Holdings, while the seller was Spencer Palmer from Montgomery Partners. The deal was facilitated by brokers Jeff Benson and Sam Neumark from Northmarq.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$669,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$44,587.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,493.40
Annual Debt Service$713,920.83
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