Updated Dec 4, 2024
David Tarquin & Aaron Case Of ORKA Holdings Acquire Multifamily Portfolio From Concordia University For $4,600,000
1926 Fortuna Avenue & 633 Pennsylvania Avenue
$4,600,000
$276/SF
Building Size
8,332 SF
Asset Type
MultiFamily
Closing
Mar 7, 2024
About this deal
AI
The two-property multifamily portfolio located at 1926 Fortuna Avenue & 633 Pennsylvania Avenue in San Diego was sold for $4,600,000. The deal involved a total of 15 units, with a price per unit of $306,667. The properties spanned 8,332 square feet, resulting in a price per square foot of $552.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,600,000
- Buyer: David Tarquin & Aaron Case - ORKA Holdings
- Seller: Concordia University
- Market: San Diego
ORKA Holdings, represented by David Tarquin & Aaron Case, acquired the two-property portfolio from Concordia University in an off-market, all-cash transaction.
On the Map
$4,600,000
$276/SF
MultiFamily
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San Diego 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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93