Positive Investments Inc. Acquires Multifamily Property In Placentia For $44M
SOLD
$44,000,000
California
See Similar DealsMultiFamily136,060 SF
Sold 08/06/2020
SOLD
Positive Investments Inc. Acquires Multifamily Property In Placentia For $44M
1112 N Bradford Ave, Placentia, CA, USA
See Similar DealsMultiFamily136,060 SF
Sold 08/06/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$323
Total Square Footage:136,060 SF
Transaction Type:Sale
The multifamily property located at 1112 N. Bradford Ave. in Placentia has been sold for $44,000,000. The property, consisting of 176 units, was purchased by Positive Investments Inc. from Bradford Terrace Placentia Apartments LP. The transaction was facilitated by Rick Applebaum, Paul Espinosa, and Doug Rodermund of Morgan Skenderian Investment Real Estate Group.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Date: 08/06/2021
- Address: 1112 N. Bradford Ave.
- Market: Placentia
- Buyer: Positive Investments Inc.
- Seller: Bradford Terrace Placentia Apartments LP
- Brokers: Rick Applebaum, Paul Espinosa & Doug Rodermund - Morgan Skenderian Investment Real Estate Group
- Units: 176
- Price Per Unit: $250,000
The involvement of Rick Applebaum, Paul Espinosa, and Doug Rodermund from Morgan Skenderian Investment Real Estate Group played a crucial role in the successful completion of this transaction.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$156,322.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$208,582.45
Annual Debt Service$2,502,989.37
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