Tower 16 Capital Partners Sells MultiFamily Property In Moreno Valley For $25.05M With Broker Shane Shafer's Representation
SOLD
$25,050,000
California
See Similar DealsMultiFamily80,100 SF
Sold 09/28/2023
SOLD
Tower 16 Capital Partners Sells MultiFamily Property In Moreno Valley For $25.05M With Broker Shane Shafer's Representation
13325 Heacock Street
See Similar DealsMultiFamily80,100 SF
Sold 09/28/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$312
Total Square Footage:80,100 SF
Transaction Type:Sale
A multifamily property located at 13325 Heacock Street in the Moreno Valley market has been sold for a total price of $25,050,000. The property consists of 120 units, with an average price per unit of $208,750. The total square footage of the property is 80,100, resulting in a price per square foot of $313.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $25,050,000
- Address: 13325 Heacock Street
- Market: Moreno Valley
- Units: 120
- Average Price Per Unit: $208,750
- Square Footage: 80,100
- Price Per Square Foot: $313
The sale of this multifamily property was facilitated by Tower 16 Capital Partners, represented by Mike Farley and Tyler Pruett. Acting as the broker in the transaction was Shane Shafer from NorthMarq. Their expertise and involvement played a crucial role in ensuring the successful completion of the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,336,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,997.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,749.78
Annual Debt Service$1,424,997.36
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