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
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