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Harrison Street Apartments Sold For $11.7 Million In Redwood City With Financing Arranged By David Campbell
SOLD
$11,700,000
+ 1
California
See Similar DealsMultiFamily
Sold 10/24/2025
SOLD
Harrison Street Apartments Sold For $11.7 Million In Redwood City With Financing Arranged By David Campbell
150 Harrison Avenue
See Similar DealsMultiFamily
Sold 10/24/2025
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The Harrison Street Apartments is a 22-unit multifamily property located at 150 Harrison Avenue in Redwood City. The property was sold for $11.7 million, with a price per unit of $531,818.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $11,700,000
- Units: 22
- Price Per Unit: $531,818
- Brokers: Adam Richardson, Adam Levin, and Robert Johnston - Marcus & Millichap
- Mortgage Broker: David Campbell - Marcus & Millichap Capital Corporation
- Acquisition Financing: $6,000,000
- Loan Term: 30 years
Adam Richardson, Adam Levin, and Robert Johnston facilitated the transaction through their representation of the seller, while David Campbell arranged the financing required for the buyer, securing a 30-year loan.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$624,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$41,567.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$55,463.97
Annual Debt Service$665,567.63
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