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La Caze Development Sells 15-Unit Grandview Escondido Multifamily For $7.23M With Newmark Representing Seller
SOLD
$7,225,000
California
See Similar DealsMultiFamily13,421 SF
Sold 05/22/2025
SOLD
La Caze Development Sells 15-Unit Grandview Escondido Multifamily For $7.23M With Newmark Representing Seller
1316 Grand Avenue
See Similar DealsMultiFamily13,421 SF
Sold 05/22/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$538
Total Square Footage:13,421 SF
Transaction Type:Sale
The 15-unit Grandview Escondido multifamily property, located at 1316 East Grand Avenue in the Escondido market, was sold for $7,225,000. The property spans a total of 13,421 square feet, resulting in a price per unit of $481,667 and a price per square foot of $538.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,225,000
- Units: 15
- Square Footage: 13,421
- Price Per Unit: $481,667
- Price Per Square Foot: $538
- Seller: La Caze Development
- Buyer's Representative: Andy Brikho - Brik Home Loans
- Seller's Representatives: Erik Anderson & Tanner Harris - Newmark
La Caze Development executed the sale through representatives Erik Anderson and Tanner Harris from Newmark, while the buyer was represented by Andy Brikho from Brik Home Loans. This transaction marked the second-highest price per unit ever recorded in Escondido.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$385,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,668.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,250.19
Annual Debt Service$411,002.23
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