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CBRE Facilitates $6M Sale Of 17-Unit Multifamily Property In Westminster, CA

Property Image
SOLD
$6,000,000
Daniel (Dan) Blackwell
Andrew Boukather

California

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MultiFamily
Sold 07/05/2023
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Property Image
SOLD

CBRE Facilitates $6M Sale Of 17-Unit Multifamily Property In Westminster, CA

13931 Illinois St Westminster, Ca 92683, Usa

See Similar Deals
MultiFamily
Sold 07/05/2023
Daniel (Dan) Blackwell
Andrew Boukather
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The CBRE team, represented by Dan Blackwell and Andrew Boukather, facilitated the sale of a multifamily property in Westminster, California. The property, located at 13931-13951 Illinois Street, encompasses 1.13 acres of land. The transaction took place on July 5, 2023.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $6,000,000
  • Units: 17
  • Price per Unit: $352,941
  • Address: 13931-13951 Illinois Street, Westminster, California
  • Market: Westminster

The property comprises two-bedroom apartments and has recently undergone renovations. Its proximity to shopping centers and major employers presents an attractive value-add opportunity for investors.

CBRE's Dan Blackwell and Andrew Boukather played a pivotal role as the brokers in this transaction.

Players

Daniel (Dan) Blackwell
CBRE
Daniel Blackwell
61 deals$439.4M volume(949) 725-8655
BROKER
Andrew Boukather
MBI Equity Partners
Andrew Boukather
11 deals$64.5M volume(949) 809-3629
BROKER

Details

SOLD
IMAGE: Dan Blackwell & Andrew Boukather DATE: 07/05/2023 ADDRESS: 13931-13951 Illinois Street MARKET: Westminster ASSET TYPE: Multifamily ~ ACRES: 1.13 BROKERS: Dan Blackwell (@MultifamilySocal) & Andrew Boukather - CBRE (@CBRE) SALE PRICE: $6,000,000 UNITS: 17 ~ PPU: $352,941 NOTE: CBRE facilitated the sale of a 17-unit multifamily property in Westminster, California, for $6 million. The property features two-bedroom apartments, recent renovations, and proximity to shopping centers and major employers, offering a value-add opportunity for investors.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
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