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238 North Gold Canyon Stree...

Sumi Dave Acquires Ridgecrest Multifamily In $13M Deal With Len Eastwood As Seller
SOLDMultiFamily

Sumi Dave Acquires Ridgecrest Multifamily In $13M Deal With Len Eastwood As Seller

238 North Gold Canyon Street, Ridgecrest, CA, USA

$13,000,000

$80/SF

Building Size

162,016 SF

Asset Type

MultiFamily

Closing

Sep 30, 2021

AI

A multifamily property located at 238 N. Gold Canyon Street in Ridgecrest has recently been sold for $13,000,000. The property consists of 190 units, with an average price per unit of $68,421. The total square footage of the property is 162,016, resulting in a price per square foot of $80.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $13,000,000
  • Address: 238 N. Gold Canyon Street
  • Market: Ridgecrest

Len Eastwood sold the property to Sumi Dave. The sale was facilitated by Cray A. Carlson of CBRE. Cray A. Carlson represented the seller in this transaction.

Players

Cray Carlson

CBRE

Broker

$147.1M

vol

16 deals

Broker

Sumi Dave

Buyer

$20.1M

vol

2 deals

Buyer

Ridgecrest 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

1.22%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93