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Floit Properties Acquires San Diego Multifamily From Katz Family Limited Partnership

Property Image
SOLD
$2,600,000

California

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MultiFamily
Sold 09/09/2022
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Property Image
SOLD

Floit Properties Acquires San Diego Multifamily From Katz Family Limited Partnership

2265 Curlew Street, San Diego, California 92101, United States

See Similar Deals
MultiFamily
Sold 09/09/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property at 2265 Curlew Street in San Diego has been sold for a price of $2,600,000. The transaction took place on 09/09/2022. The property consists of 8 units, with a price per unit (PPU) of $325,000. The seller was the Katz Family Limited Partnership, and the buyer was Floit Properties. The deal was facilitated by Conor Brennan from Marcus & Millichap.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,600,000
  • Units: 8
  • Price per Unit (PPU): $325,000
  • Address: 2265 Curlew Street, San Diego
  • Market: San Diego

Conor Brennan from Marcus & Millichap represented Floit Properties in the transaction. The sale of this multifamily property signifies a significant investment opportunity in the San Diego market. The deal highlights the continued demand for multifamily properties in the area.

Players

Conor Brennan
9 deals$84.6M volume(720) 841-8139
BROKER

Details

SOLD
IMAGE: Conor Brennan DATE: 09/09/2022 ADDRESS: 2265 Curlew Street MARKET: San Diego ASSET TYPE: Multifamily BUYER: Floit Properties SELLER: Katz Family Limited Partnership BROKER: Conor Brennan - Marcus & Millichap (@MarcusMillichapLosAngeles) SALE PRICE: $2,600,000 UNITS: 8 ~ PPU: $325,000

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
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