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NNC Apartment Ventures Acquires 51-Unit Imperial Apartments In Santa Ana For $15 Million
SOLD
$15,000,000
California
See Similar DealsMultiFamily
Sold 06/26/2025
SOLD
NNC Apartment Ventures Acquires 51-Unit Imperial Apartments In Santa Ana For $15 Million
1722 North Bush Street
See Similar DealsMultiFamily
Sold 06/26/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this transaction is a multifamily asset known as the Imperial Apartments, located at 1722 North Bush Street in Santa Ana. The sale price for this 51-unit property was $15,000,000, which translates to a price per unit of $294,118.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Buyer: NNC Apartment Ventures
- Seller: Craig Clausen - Clausen Enterprises
- Brokerage Firm: Marcus & Millichap
- Brokers: Tyler Leeson, Nick Kazemi & Jon Mimms
- Units: 51
- Price Per Unit: $294,118
NNC Apartment Ventures completed this acquisition as part of a 1031 exchange, utilizing the property as the upleg in the transaction. The deal was facilitated by Marcus & Millichap, with brokers Tyler Leeson, Nick Kazemi, and Jon Mimms representing the involved parties throughout the process.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$799,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83
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