Sumi Dave Acquires Ridgecrest Multifamily In $13M Deal With Len Eastwood As Seller
SOLD
$13,000,000
California
See Similar DealsMultiFamily162,016 SF
Sold 09/30/2021
SOLD
Sumi Dave Acquires Ridgecrest Multifamily In $13M Deal With Len Eastwood As Seller
238 North Gold Canyon Street, Ridgecrest, CA, USA
See Similar DealsMultiFamily162,016 SF
Sold 09/30/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$80
Total Square Footage:162,016 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$693,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$46,186.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$61,626.63
Annual Debt Service$739,519.59
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