Fairfield Residential Acquires Multifamily Property In Little Italy, San Diego For $45.3M
2040 Columbia St, Little Italy, San Diego, CA, USA
$45,300,000
$40,700/SF
Building Size
1,113 SF
Asset Type
MultiFamily
Closing
May 16, 2021
AI
The property involved in this closed transaction is a multi-family asset located at 2040 Columbia St in the Little Italy neighborhood of San Diego. The sale took place on May 17, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $45,300,000
- Buyer: Fairfield Residential - Greg Pinkalla
- Seller: The Picerne Group - Kenneth Picerne
- Brokers: Darcy Miramontes, Sean Deasy & Kip Malo - JLL
- Units: 108
- Price Per Unit (PPU): $419,444
Greg Pinkalla from Fairfield Residential acted as the buyer in this transaction, while Kenneth Picerne represented The Picerne Group as the seller. The deal was facilitated by Darcy Miramontes, Sean Deasy, and Kip Malo from JLL.
Players
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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93