facebook
Traded Co logo
Submit

North Star Homes Acquires Country Airre Apartments In San Diego For $20M

Property Image
SOLD
$20,000,000

California

See Similar Deals
MultiFamily65,960 SF
Sold 05/19/2022
the dealplayerscompscontact
Property Image
SOLD

North Star Homes Acquires Country Airre Apartments In San Diego For $20M

2330 Grove Avenue, Chula Vista, California 92154, United States

See Similar Deals
MultiFamily65,960 SF
Sold 05/19/2022
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$303
Total Square Footage:65,960 SF
Transaction Type:Sale

The Country Airre Apartments, located at 2330 Grove Ave in San Diego, have recently been sold in a closed transaction. The multifamily property was acquired by North Star Homes LP, represented by Michael Contreras, for a sale price of $20,000,000. The seller was Unison Investment. The sale was facilitated by Nancy Bush and Mike McKinney of Lyon Stahl, acting as the buyer and seller's representatives, respectively.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $20,000,000
  • Address: 2330 Grove Ave - Country Airre Apartments
  • Market: San Diego

The Country Airre Apartments consist of 70 units, with an average price per unit (PPU) of $285,714. The total square footage of the property is 65,960, resulting in a price per square foot (PPSF) of $303.

Nancy Bush and Mike McKinney, both experienced brokers at Lyon Stahl, played a crucial role in the successful completion of this transaction. Their expertise and dedication contributed to the smooth negotiation and ultimate sale of the Country Airre Apartments.

Players

Mike McKinney
5 deals$90.1M volume
BROKER

Nancy Bush
Lyon Stahl Investment Real Estate
5 deals$90.1M volume(310) 849-9210
BROKER

Details

SOLD
IMAGE: Mike McKinney & Nancy Bush DATE: 05/19/2022 ADDRESS: 2330 Grove Ave - Country Airre Apartments MARKET: San Diego ASSET TYPE: Multifamily BUYER: North Star Homes LP - Michael Contreras SELLER: Unison Investment BUYER & SELLER'S REP: Nancy Bush (https://www.linkedin.com/in/nancyleebush) & Mike McKinney (https://www.linkedin.com/in/mike-mckinney-8224a937) - Lyon Stahl (@LyonStahl) SALE PRICE: $20,000,000 UNITS: 70 ~ PPU: $285,714 SF: 65,960 ~ PPSF: $303

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
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,066,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44