Grant Lin Acquires Ontario Multifamily From Jesse P. Chen For $1.57M
SOLD
$1,570,000
California
See Similar DealsMultiFamily5,392 SF
Sold 12/28/2022
SOLD
Grant Lin Acquires Ontario Multifamily From Jesse P. Chen For $1.57M
1542 8th Street
See Similar DealsMultiFamily5,392 SF
Sold 12/28/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$291
Total Square Footage:5,392 SF
Transaction Type:Sale
The multifamily property located at 1542 8th Street in Ontario has been sold in a closed transaction. The property consists of 6 units with a total square footage of 5,392. The sale price for this transaction was $1,570,000, which amounts to approximately $291 per square foot. The asking price for the property was $1,800,000. The buyer of the property is Grant Lin, while the seller is Jesse P. Chen.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,570,000
- Units: 6
- Price per Unit: $261,667
- Square Footage: 5,392
- Price per Square Foot: $291
CBRE brokers Eric Chen and Blake Torgerson represented both parties in this sale transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$83,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,577.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,442.60
Annual Debt Service$89,311.21
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