Three Pillar Communities Acquires Manufactured Housing In Oceanside From Trico Properties For $8.675M
SOLD
$8,675,000
California
See Similar DealsMultiFamily470,448 SF
Sold 09/13/2024
SOLD
Three Pillar Communities Acquires Manufactured Housing In Oceanside From Trico Properties For $8.675M
221 South El Camino Real
See Similar DealsMultiFamily470,448 SF
Sold 09/13/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$18
Total Square Footage:470,448 SF
Transaction Type:Sale
The manufactured housing asset located at 221 South El Camino Real in Oceanside has been sold for $8,675,000. The property encompasses a total square footage of 470,448.
Summary of transaction details:
- Property Type: Manufactured Housing
- Transaction Amount: $8,675,000
- Address: 221 South El Camino Real
- Market: Oceanside
- Buyer: Three Pillar Communities
- Seller: Trico Properties
- Brokers: Sam Neumark & Jeff Benson - NorthMarq
This transaction was facilitated by brokers Sam Neumark and Jeff Benson, representing the interests of the parties involved. The sale is indicative of Three Pillar Communities' investment strategy within the manufactured housing sector.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$462,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,820.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,123.93
Annual Debt Service$493,487.11
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