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2030 Kearny Avenue

Polak Properties LLC Sells Six-Unit Multifamily Property In San Diego For $1.9M
SOLDMultiFamily

Polak Properties LLC Sells Six-Unit Multifamily Property In San Diego For $1.9M

2030 Kearny Avenue

$1,900,000

Building Size

Asset Type

MultiFamily

Closing

Jul 15, 2024

AI

The property asset involved in this transaction is a six-unit apartment building located at 2030 Kearny Avenue in San Diego. The sale price of the property was $1,900,000, which translates to a per unit price of $316,667. The property includes four one-bedroom units and two two-bedroom units, and it features upgraded amenities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,900,000
  • Units: 6
  • Price Per Unit: $316,667
  • Seller: Polak Properties LLC
  • Broker: Aaron Bove - Marcus & Millichap
  • Market: San Diego
  • Sale Date: 07/15/2024

This transaction was facilitated by Marcus & Millichap, with Aaron Bove serving as the broker representing the seller. The closing of this deal reflects the continued interest in multifamily properties within the San Diego market.

Players

Aaron Bove

Marcus & Millichap

Broker

$46.4M

vol

12 deals

Broker

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

8.35%

Cash-on-Cash

-2.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93