Sack Properties Acquires Multifamily Property In San Rafael For $58M
SOLD
$58,000,000
California
See Similar DealsMultiFamily
Sold 08/08/2022
SOLD
Sack Properties Acquires Multifamily Property In San Rafael For $58M
155 Andersen Drive, San Rafael, California 94901, United States
See Similar DealsMultiFamily
Sold 08/08/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 155 Andersen Drive in San Rafael has been sold in a recent transaction. The property consists of 126 units and was sold for a total price of $58,000,000, resulting in an average price per unit of $460,317. The sale took place on 08/08/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Address: 155 Andersen Drive, San Rafael
- Market: San Rafael
Sack Properties, represented by Kirby Sack, acquired the property from Bel Albert Holdings. Kirby Sack acted as the buyer's representative in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,061.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,949.59
Annual Debt Service$3,299,395.08
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