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CBRE Arranges $2.875M Sale Of 10-Unit Multifamily Property In Garden Grove

Property Image
SOLD
$2,875,000
Daniel (Dan) Blackwell
Andrew Boukather

California

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MultiFamily8,601 SF
Sold 11/06/2023
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Property Image
SOLD

CBRE Arranges $2.875M Sale Of 10-Unit Multifamily Property In Garden Grove

11821 Stuart Drive

See Similar Deals
MultiFamily8,601 SF
Sold 11/06/2023
Daniel (Dan) Blackwell
Andrew Boukather
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$334
Total Square Footage:8,601 SF
Transaction Type:Sale

The 10-unit multifamily property located at 11821 Stuart Drive in Garden Grove, California has been sold for $2,875,000. This transaction marks the property's first sale in over 60 years. With a value-add opportunity, the property offers potential for rent increases. It is conveniently located near major employment centers and amenities, as well as tourist destinations.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,875,000
  • Address: 11821 Stuart Drive
  • Market: Garden Grove
  • ACRES: 0.28

The sale of this multifamily property was facilitated by Andrew Boukather and Daniel Blackwell of CBRE. They represented both the seller and the buyer in this transaction.

Players

Daniel (Dan) Blackwell
CBRE
Daniel Blackwell
61 deals$439.4M volume(949) 725-8655
BROKER
Andrew Boukather
MBI Equity Partners
Andrew Boukather
11 deals$64.5M volume(949) 809-3629
BROKER

Details

SOLD
IMAGE: Daniel Blackwell & Andrew Boukather DATE: 11/06/2023 ADDRESS: 11821 Stuart Drive MARKET: Garden Grove ASSET TYPE: Multifamily ~ ACRES: 0.28 BROKERS: Andrew Boukather & Daniel Blackwell (@MultifamilySocal) - CBRE SALE PRICE: $2,875,000 UNITS: 10 ~ PPU: $287,500 SF: 8,601 ~ PPSF: $334 NOTE: CBRE has arranged the $2.875 million sale of a 10-unit multifamily property in Garden Grove, California, the property's first sale in over 60 years, with CBRE's Dan Blackwell and Andrew Boukather representing the seller and buyer. The property offers a value-add opportunity with potential rent increases, is conveniently located near major employment centers and amenities, and has proximity to tourist destinations.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$153,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,214.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,628.97
Annual Debt Service$163,547.60