Marcus & Millichap Sells Multifamily Property In San Diego For $3.5M
SOLD
$3,500,000
California
See Similar DealsMultiFamily
Sold 10/12/2022
SOLD
Marcus & Millichap Sells Multifamily Property In San Diego For $3.5M
1215 Hornblend Street, San Diego, California 92109, United States
See Similar DealsMultiFamily
Sold 10/12/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
An multifamily property located at 1215 Hornblend St in San Diego, CA has been sold. The property, owned by 1215 Hornblend, LLC, was listed for sale and represented by Austin Huffman and Christopher J. Zorbas of Marcus & Millichap. The transaction took place on October 12, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Address: 1215 Hornblend St, San Diego, CA
- Market: San Diego, CA
- Seller: 1215 Hornblend, LLC
- Brokers: Austin Huffman & Christopher J. Zorbas - Marcus & Millichap
- Units: 10
- Price Per Unit (PPU): $350,000
The sale price for the property was $3,500,000, with a total of 10 units available. This translates to a price per unit (PPU) of $350,000. Austin Huffman and Christopher J. Zorbas, representing Marcus & Millichap, facilitated the transaction between the buyer and seller.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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