SOLD
Marcus & Millichap Capital Arranges $5.85M Financing For Rancho Verde Apartments Acquisition In San Jose
127 Rancho Drive
MultiFamily
Sold 310 days ago
Summary
Sale
CALIFORNIA
MultiFamily
The Rancho Verde Apartments in San Jose, a multifamily property, was recently sold for $8.8 million. The transaction took place on 06/27/2023 and the property is located at 127 Rancho Drive. The sale price translates to a per unit price of $293,333. The buyer plans to carry out substantial renovations in order to achieve market rents.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,800,000
- Units: 30
- Price Per Unit: $293,333
- Market: San Jose
Eymon Binesh from Marcus & Millichap represented the buyer in this transaction as the broker. Chad O’Connor, also from Marcus & Millichap, acted as the mortgage broker for the buyer. Marcus & Millichap Capital Corporation arranged the acquisition financing, securing a loan amount of $5.85 million.
Please note that the provided information does not mention any additional details about the deal.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: Chad O’Connor & Eymon Binesh
DATE: 06/27/2023
ADDRESS: 127 Rancho Drive
MARKET: San Jose
ASSET TYPE: Multifamily
BROKER: Eymon Binesh - Marcus & Millichap
MORTGAGE BROKER: Chad O’Connor - Marcus & Millichap Capital Corporation
SALE PRICE: $8,800,000
UNITS: 30 ~ PPU: $293,333
NOTE: Rancho Verde Apartments in San Jose was sold for $8.8 million through Marcus & Millichap, with plans for substantial renovations by the buyer to achieve market rents. The acquisition financing of $5.85 million was arranged by Marcus & Millichap Capital Corporation.View on map
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Address127 Rancho Drive
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