Atlantic Pacific Acquires Multifamily Property In Lake Elsinore For $64.5M
SOLD
$64,500,000
California
See Similar DealsMultiFamily168 SF
Sold 08/30/2022
SOLD
Atlantic Pacific Acquires Multifamily Property In Lake Elsinore For $64.5M
2088 East Lakeshore Drive
See Similar DealsMultiFamily168 SF
Sold 08/30/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$383,928
Total Square Footage:168 SF
Transaction Type:Sale
The multifamily property located at 2088 E Lakeshore Dr in Lake Elsinore has been sold in a transaction that closed on 08/30/2022. The property, owned by Weidner Apartment Homes, was purchased by Atlantic Pacific. The sale price for this transaction was $64,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,500,000
- Date: 08/30/2022
- Address: 2088 E Lakeshore Dr
- Market: Lake Elsinore
- Buyer: Atlantic Pacific
- Seller: Weidner Apartment Homes
- Broker: Kyle Pinkalla - Northmarq
The property consists of 184 units, with a per unit price of $350,543. It spans a total square footage of 168,728, resulting in a price per square foot of $382.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,439,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$229,154.88
Cash-on-Cash Return-1.27%
Monthly Debt Service$305,762.91
Annual Debt Service$3,669,154.88
Is there something missing? Send suggestions
