SB Real Estate Partners Acquires Multifamily Asset In Redlands For $46.2M
SOLD
$46,200,000
California
See Similar DealsMultiFamily
Sold 10/19/2021
SOLD
SB Real Estate Partners Acquires Multifamily Asset In Redlands For $46.2M
1250 University Street, Redlands, California 92374, United States
See Similar DealsMultiFamily
Sold 10/19/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 1250 N. University St. in Redlands has been sold for a total price of $46,200,000. This property consists of 124 units, resulting in a per-unit price of $372,580. The transaction took place on October 19, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $46,200,000
- Units: 124
- Price Per Unit: $372,580
- Market: Redlands
The buyer of this property is SB Real Estate Partners, represented by Srijin Bandyopadhyay. The brokers involved in the deal were Blake Rogers and Hunter Combs from Walker & Dunlop.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,464,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$164,138.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$219,011.57
Annual Debt Service$2,628,138.84
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