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Gelt Inc. Acquires MultiFamily Asset At 1500 Cherry St Placentia For $63.15M

Property Image
SOLD
$63,150,000

California

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MultiFamily
Sold 09/01/2023
the dealplayerscompscontact
Property Image
SOLD

Gelt Inc. Acquires MultiFamily Asset At 1500 Cherry St Placentia For $63.15M

1500 Cherry St

See Similar Deals
MultiFamily
Sold 09/01/2023
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

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:

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.

Players

Derrek Ostrzyzek
CBRE
Derrek Ostrzyzek
116 deals$11.5B volume
BROKER
GI
Gelt Inc.
BUYER

Details

SOLD
IMAGE: 09/01/2023 ADDRESS: 1500 Cherry St MARKET: Placentia ASSET TYPE: MultiFamily BROKERS: Derrek Ostrzyzek(CBRE) BUYER: Gelt Inc. PRICE: $63,150,000.00

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,367,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$224,358.62
Cash-on-Cash Return-1.27%
Monthly Debt Service$299,363.22
Annual Debt Service$3,592,358.61