Updated Jan 31, 2025
Gelt Inc. Acquires MultiFamily Asset At 1500 Cherry St Placentia For $63.15M
1500 Cherry St
$63,150,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 1, 2023
About this deal
AI
The property involved in this transaction is a MultiFamily asset located at 1500 Cherry St in Placentia. The sale price was $63,150,000.00, reflecting market conditions in the area.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $63,150,000.00
- Address: 1500 Cherry St
- Market: Placentia
- Buyer: Gelt Inc.
- Brokers: Derrek Ostrzyzek, CBRE
Gelt Inc. is the buyer in this transaction, represented by the brokerage services of Derrek Ostrzyzek from CBRE, ensuring professional oversight throughout the deal process.
The multifamily sale at 1500 Cherry St in Placentia, California sold for $63.2M in 2023. 1500 Cherry St is classified as Multifamily on Traded. Derrek Ostrzyzek, CBRE appear on the sale alongside CBRE. This page is the Placentia, California file for the 1500 Cherry St multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Placentia sit in the Market section below. Filter that Placentia multifamily set by closing date to see what else sold near 1500 Cherry St around 2023. Published consideration for 1500 Cherry St is $63.2M, dated 2023. Cite this Gelt Inc. Acquires MultiFamily Asset At 1500 Cherry St Placentia For $63.15M sale when underwriting similar multifamily product around Placentia, California.
Players
Placentia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93