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13260 Heacock Street

Brian Mikail Acquires 48-Unit Multifamily In Moreno Valley For $8.72M
SOLDMultiFamily

Brian Mikail Acquires 48-Unit Multifamily In Moreno Valley For $8.72M

13260 Heacock Street

$8,720,000

$222/SF

Building Size

39,200 SF

Asset Type

MultiFamily

Closing

Nov 3, 2023

AI

The multifamily property located at 13260 Heacock Street in Moreno Valley has been sold in a recent transaction. The property consists of 48 units, with an average price per unit of $181,667. The total square footage of the property is 39,200, resulting in a price per square foot of $222. The sale price for the property was $8,720,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,720,000
  • Units: 48
  • Average Price Per Unit: $181,667
  • Square Footage: 39,200
  • Price Per Square Foot: $222
  • Address: 13260 Heacock Street, Moreno Valley
  • Market: Moreno Valley

The buyer in this transaction is Brian Mikail, while the seller is Grant Lin. The deal was facilitated by Eric Chen and Blake Torgerson from CBRE, who represented the buyer and seller respectively.

Players

Blake Torgerson

CBRE

Broker

$286.1M

vol

48 deals

Broker

Moreno Valley 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

1.82%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93