Silver Star Real Estate Acquires 147-Unit Multifamily Property In La Verne For $49.7M
SOLD
$49,700,000
California
See Similar DealsMultiFamily6,476 SF
Sold 07/21/2020
SOLD
Silver Star Real Estate Acquires 147-Unit Multifamily Property In La Verne For $49.7M
2421 Foothill Blvd, La Verne, CA 91750, USA
See Similar DealsMultiFamily6,476 SF
Sold 07/21/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$7,674
Total Square Footage:6,476 SF
Transaction Type:Sale
The multifamily property located at 2421 Foothill Blvd in La Verne has been sold for a total price of $49,700,000. This property consists of 147 units, with a per unit price of $338,095. The transaction took place on July 21, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $49,700,000
- Address: 2421 Foothill Blvd
- Market: La Verne
The buyer of this property is Silver Star Real Estate, represented by Amber Property Investments LLC. The deal was facilitated by brokers Chinmay Bhatt, Noam Franklin, and Cody Kirkpatrick from Berkadia.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,650,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$176,573.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$235,603.36
Annual Debt Service$2,827,240.27
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