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Marcus & Millichap Arranges $34M Sale Of Multifamily Properties In Pleasanton And Alameda
SOLD
$34,000,000
California
See Similar DealsMultiFamily
Sold 01/17/2025
SOLD
Marcus & Millichap Arranges $34M Sale Of Multifamily Properties In Pleasanton And Alameda
2451 Santa Rita Road & 1701 Shore Line Drive
See Similar DealsMultiFamily
Sold 01/17/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The sale involved two multifamily properties in Alameda County, comprising the 73-unit Vista Del Sol in Pleasanton and the 38-unit Islander Apartments in Alameda. The transaction reached a total sale price of $34 million, with the price per unit averaging $306,306. The properties are situated in the Pleasanton and Alameda markets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $34,000,000
- Units: 111
- Location: 2451 Santa Rita Road & 1701 Shore Line Drive
- Market: Pleasanton & Alameda
Adam Levin of The Levin Johnston - Marcus & Millichap facilitated the arrangement of this deal, representing both the buyers and sellers throughout the transactions. The firm capitalized on the increasing investment activity within the region, successfully navigating the sale of both properties.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$120,794.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$161,177.35
Annual Debt Service$1,934,128.15
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