MG Properties Acquires Multifamily Property In Orange County For $130M
SOLD
$130,000,000
California
See Similar DealsMultiFamily
Sold 05/10/2022
SOLD
MG Properties Acquires Multifamily Property In Orange County For $130M
150 East Crowther Avenue, Placentia, California 92870, United States
See Similar DealsMultiFamily
Sold 05/10/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 150 East Crowther Avenue in Orange County has been sold for a total of $130,000,000. The property consists of 215 units, making the price per unit $605,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Address: 150 East Crowther Avenue
- Market: Orange County
The buyer of the property is MG Properties, while the seller is Lyon Living, represented by Frank Suryan Jr. and Integral Communities.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$6,933,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$461,862.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$616,266.32
Annual Debt Service$7,395,195.87
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