Marcus & Millichap Sells Multifamily Property In San Diego For $3.5M
1215 Hornblend Street, San Diego, California 92109, United States
$3,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 11, 2022
AI
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
San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93