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Cyrus Sanandaji And Deborah Harmon Acquire Multifamily Asset At 1401 Mission Street For $39.75M
SOLD
$39,750,000
+ 2
California
See Similar DealsMultiFamily
Sold 04/16/2025
SOLD
Cyrus Sanandaji And Deborah Harmon Acquire Multifamily Asset At 1401 Mission Street For $39.75M
1401 Mission Street
See Similar DealsMultiFamily
Sold 04/16/2025
+ 2
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 1401 Mission Street in San Francisco. The building is 95% leased and was acquired for $39.75 million.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $39,750,000
- Buyer: Cyrus Sanandaji - Presidio Bay Ventures
- Buyer: Deborah Harmon - Artemis Real Estate Partners
- Brokers: Fatai Alashe, Matt Kroger & Ryan Wagner - JLL
Presidio Bay Ventures partnered with Artemis Real Estate Partners for the acquisition of the Olume apartment building. JLL facilitated the transaction, and the management of the property will be under Presidio Bay's platform, The Main Post.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,119,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$141,223.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$188,435.28
Annual Debt Service$2,261,223.35
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