Vista Pacific Inc. Acquires Lake Elsinore Multifamily For $46M
SOLD
$46,000,000
California
See Similar DealsMultiFamily217,800 SF
Sold 08/19/2020
SOLD
Vista Pacific Inc. Acquires Lake Elsinore Multifamily For $46M
15120 Grand Ave, Lake Elsinore, CA, USA
See Similar DealsMultiFamily217,800 SF
Sold 08/19/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$211
Total Square Footage:217,800 SF
Transaction Type:Sale
The property asset involved in this transaction is a multifamily unit located at 15120 Grand Ave., Lake Elsinore. The seller, Forge Partners, facilitated the sale of the asset, which consists of 192 units, achieving a sales price of $46,000,000. The price per unit (PPU) has been established at $239,583.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $46,000,000
- Address: 15120 Grand Ave.
- Market: Lake Elsinore
- Units: 192
- Price Per Unit: $239,583
- Buyer: Vista Pacific Inc.
- Seller: Forge Partners
- Broker: Berkadia San Diego - Tyler Sinks, Edward Rosen & John Chu
This transaction was brokered by Berkadia San Diego, with key representatives including Tyler Sinks, Edward Rosen, and John Chu, who represented the parties involved in the deal. The successful sale reflects the ongoing activity in the multifamily residential market in Lake Elsinore.
Players
BUYER
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,453,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$163,428.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$218,063.47
Annual Debt Service$2,616,761.62
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