VMG Properties Sells Signal Hill Multifamily Property For $9.3M With Stepp Commercial Brokers
SOLD
$9,325,000
California
See Similar DealsMultiFamily13 SF
Sold 08/12/2022
SOLD
VMG Properties Sells Signal Hill Multifamily Property For $9.3M With Stepp Commercial Brokers
1867 Temple Avenue, Signal Hill, California 90755, United States
See Similar DealsMultiFamily13 SF
Sold 08/12/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$717,307
Total Square Footage:13 SF
Transaction Type:Sale
A multifamily property located at 1867 Temple Avenue in Signal Hill, CA has been sold for a price of $9,325,000. The property consists of 24 units with an average price per unit of $388,542. The total square footage of the property is 13,849, resulting in a price per square foot of $673. The transaction took place on 12/08/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,325,000
- Market: Signal Hill, CA
- Seller: VMG Properties
The sale was facilitated by brokers Robert Stepp and Michael Toveg from Stepp Commercial. The transaction resulted in a capitalization rate of 3.9%.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$497,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,129.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,205.26
Annual Debt Service$530,463.09
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