Updated Oct 29, 2024
Contour Lofts LLC Acquires Multifamily Property In San Diego's Little Italy For $20.7M
2120 Columbia St San Diego, CA 92101, USA
$20,700,000
Units
27
Asset Type
MultiFamily
Closing
Sep 5, 2023
About this deal
AI
The Contour Lofts, a six-story multifamily property located at 2120 Columbia Street in San Diego's Little Italy neighborhood, has been sold for $20.7 million. The transaction took place between Contour Lofts LLC, represented by their broker Brendan Flynn from South Coast Commercial, and the seller, InDev LLC, represented by Brett Albro.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,700,000
- Address: 2120 Columbia Street, San Diego
- Market: San Diego
The sale price of $20.7 million translates to an average of approximately $747,222 per unit. The property comprises 27 residential units, as well as an office space. InDev LLC, the previous developer, sold the property to an entity linked to Contour Lofts LLC.
On the Map
$20,700,000
MultiFamily
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Street 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
0.77%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93