Sunny Garden Apartments 2, LP Acquires Multifamily Property In La Puente For $17.9M
SOLD
$17,900,000
California
See Similar DealsMultiFamily67,259 SF
Sold 04/03/2020
SOLD
Sunny Garden Apartments 2, LP Acquires Multifamily Property In La Puente For $17.9M
13712 Sunkist Dr, La Puente, L A, CA, USA
See Similar DealsMultiFamily67,259 SF
Sold 04/03/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$266
Total Square Footage:67,259 SF
Transaction Type:Sale
The sale of a multifamily property in La Puente has been completed at an impressive price of $17,900,000. The property, located at 13712 Sunkist Dr, boasts a total square footage of 67,259. With a price per square foot of $266.14, the transaction equates to a per-unit price of $186,458 for its 96 units. This sale involved the transfer of ownership from the seller, La Puente Gardens, to the buyer, Sunny Garden Apartments 2, LP. The deal was facilitated by brokers Joshua Ross and Eli Appel.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,900,000
- Address: 13712 Sunkist Dr
- Market: La Puente
This transaction involved senior and affordable housing, with an expiring regulatory agreement. The sale of the property signifies an important milestone in the real estate market of La Puente.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$954,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,594.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,855.13
Annual Debt Service$1,018,261.59
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