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CBRE Closes $10M Sale Of Courtyard Apartments In Westminster
SOLD
California
See Similar DealsMultiFamily
Sold 06/19/2023
SOLD
CBRE Closes $10M Sale Of Courtyard Apartments In Westminster
13872 La Pat Pl Westminster, CA 92683, USA
See Similar DealsMultiFamily
Sold 06/19/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
Courtyard Apartments at La Pat Place, a 30-unit multifamily community in Westminster, has been sold for $10 million. The property, located at 13872 La Pat Place, offers remodeled units, private patios, and an in-place Ratio Utility Billing System (RUBS) for cost savings.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $10,000,000
- Units: 30
- Price Per Unit: $333,333
- Brokers: Dan Blackwell & Andrew Boukather - CBRE
The sale of Courtyard Apartments at La Pat Place was facilitated by CBRE, with Dan Blackwell and Andrew Boukather representing the parties involved in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$533,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22
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