David Tarquin & Aaron Case Of ORKA Holdings Buy Multifamily In Encinitas For $12.65M
185 Saxony Road
$12,650,000
$720/SF
Building Size
17,550 SF
Asset Type
MultiFamily
Closing
Feb 26, 2024
AI
The multifamily property located at 185 Saxony Road in Encinitas was recently sold for $12,650,000. The property consists of 29 units with a total square footage of 17,550. The sale price per unit was $436,207, and the price per square foot was $721.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,650,000
- Units: 29
- Price Per Unit: $436,207
- Square Footage: 17,550
- Price Per Square Foot: $721
- Address: 185 Saxony Road, Encinitas
- Market: Encinitas
- Buyer: David Tarquin & Aaron Case - ORKA Holdings
- Seller: Tom Funke - Thompson Funke Trust
- Buyer's Representative: Clark Rorbach & Ray Adams - Kidder Matthews
The transaction involved buyers David Tarquin and Aaron Case, representing ORKA Holdings, acquiring the property from seller Tom Funke of the Thomas Funke Trust. The buyer's representatives were Clark Rorbach and Ray Adams from Kidder Matthews, facilitating the successful sale of the multifamily asset.
Players
Encinitas 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
1.25%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93