Updated Oct 29, 2024
Sea Breeze LLC Acquires Multifamily Property In Seaside For $25.5M
1881 Baker St, Seaside, CA, USA
$25,500,000
$259/SF
Building Size
98,105 SF
Asset Type
MultiFamily
Closing
Apr 7, 2020
About this deal
AI
Sea Breeze LLC has acquired a multifamily property located at 1881 Baker St in Seaside. The transaction, facilitated by Eduardo Cerna of Marcus & Millichap, took place on April 8, 2020. The property spans approximately 98,105 square feet and consists of 121 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,500,000
- Address: 1881 Baker St, Seaside
- Market: Seaside
Eduardo Cerna from Marcus & Millichap represented Sea Breeze LLC in this acquisition. The seller, 1050 1. 12th St. LLC, successfully closed the deal at a price of $25,500,000, with a price per square foot of $259. The purchase price per unit amounts to $210,743.
Players
Seaside 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
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93