Santa Clara County Housing Authority Acquires 102 Senior Affordable Apartments In East San Jose From U.S. Housing & Urban Development Department For $6.8M
132 N Jackson Ave San Jose, Ca 95116, Usa
$6,800,000
Units
102
Asset Type
MultiFamily
Closing
Jul 20, 2023
AI
The Santa Clara County Housing Authority has purchased 102 senior affordable apartments in East San Jose for $6.8 million. The property, located at 132 North Jackson Avenue and 1710 Alum Rock Avenue, is a multifamily asset. This transaction ensures the preservation of affordable housing for the current residents.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,800,000
- Units: 102
- Price Per Unit: $66,667
The Santa Clara County Housing Authority, represented by Fidel Contreras, acted as the buyer in this deal. They acquired the property from the U.S. Housing & Urban Development Department, represented by Preston Prince as the seller.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93