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1810 State Street, San Dieg...

JLL Brokers Sell Little Italy Multifamily Property For $64.4M
SOLDMultiFamily

JLL Brokers Sell Little Italy Multifamily Property For $64.4M

1810 State Street, San Diego, California 92101, United States

$64,400,000

$42,452/SF

Building Size

1,517 SF

Asset Type

MultiFamily

Closing

Dec 14, 2021

AI

The multifamily property located at 1810 State St. in Little Italy has been sold for a price of $64,400,000. The sale took place on December 14, 2021. The property consists of 99 units, resulting in a price per unit (PPU) of $650,500. The seller of the property was McMillin LLC.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $64,400,000
  • Address: 1810 State St.
  • Market: Little Italy
  • Units: 99
  • Price per Unit: $650,500

Darcy Miramontes, Kip Malo, Tim Wright, and Bharat Madan from JLL represented the seller, McMillin LLC, in this transaction.

Players

Darcy Miramontes

JLL

Broker

$224.2M

vol

4 deals

Broker

San Diego MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.25%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93