Charles Hermansen Acquires Multifamily In Apple Valley For $3M With Buyer's Rep Dimitre Petrov & Thomas Beniamen
SOLD
$3,000,000
California
See Similar DealsMultiFamily17,360 SF
Sold 01/24/2024
SOLD
Charles Hermansen Acquires Multifamily In Apple Valley For $3M With Buyer's Rep Dimitre Petrov & Thomas Beniamen
19087 Allegheny Road
See Similar DealsMultiFamily17,360 SF
Sold 01/24/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$172
Total Square Footage:17,360 SF
Transaction Type:Sale
The multifamily property located at 19087 Allegheny Road in Apple Valley has been sold in a closed transaction. The property consists of 16 units with a total square footage of 17,360. The sale price for the property was $3,000,000, resulting in a price per unit of $187,500 and a price per square foot of $173.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Address: 19087 Allegheny Road, Apple Valley
- Market: Apple Valley
- Units: 16
- Price per Unit: $187,500
- Total Square Footage: 17,360
- Price per Square Foot: $173
The buyer of the property is Charles Hermansen, while the seller is James Martindale. Dimitre Petrov and Thomas Beniamen from Commercial Real Estate Investors represented the buyer in the transaction as their representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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