Langdon Park Capital Acquires Property In West Covina For $48.6 Million With Dean Zander As Seller's Rep
SOLD
$48,600,000
California
See Similar DealsMultiFamily
Sold 08/11/2022
SOLD
Langdon Park Capital Acquires Property In West Covina For $48.6 Million With Dean Zander As Seller's Rep
1829 E Workman Ave, West Covina, C...
See Similar DealsMultiFamily
Sold 08/11/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in this transaction is located at 1829 E Workman Ave, West Covina, CA. It has been sold for a total of $48,600,000.00. This property is situated within the West Covina market and has a square footage of 0.
Summary of transaction details:
- Property Type: Sale
- Transaction Amount: $48,600,000.00
- Address: 1829 E Workman Ave, West Covina, CA
- Market: West Covina
- Seller's Representative: Dean Zander - CBRE
- Buyer: Langdon Park Capital
Dean Zander of CBRE represented the seller in the transaction, while Langdon Park Capital acted as the buyer, facilitating the completion of this sale in the West Covina area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,592,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$172,665.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$230,388.79
Annual Debt Service$2,764,665.53
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