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David Tarquin & Aaron Case Of ORKA Holdings Buy Multifamily In Encinitas For $12.65M

Property Image
SOLD
$12,650,000

California

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MultiFamily17,550 SF
Sold 02/26/2024
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Property Image
SOLD

David Tarquin & Aaron Case Of ORKA Holdings Buy Multifamily In Encinitas For $12.65M

185 Saxony Road

See Similar Deals
MultiFamily17,550 SF
Sold 02/26/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$720
Total Square Footage:17,550 SF
Transaction Type:Sale

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

Clark Rorbach
2 deals$18M volume(858) 436-6541
BROKER

Details

SOLD
IMAGE: David Tarquin, Aaron Case, Clark Rorbach & Ray Adams DATE: 02/26/2024 ADDRESS: 185 Saxony Road MARKET: Encinitas ASSET TYPE: Multifamily BUYER: David Tarquin & Aaron Case - ORKA Holdings SELLER: Tom Funke - Thomas Funke Trust BUYER'S REP: Clark Rorbach & Ray Adams - Kidder Matthews (@Kidder.Mathews) SALE PRICE: $12,650,000 UNITS: 29 ~ PPU: $436,207 SF: 17,550 ~ PPSF: $721

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$674,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,942.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,967.45
Annual Debt Service$719,609.44