Srinivas Yalamanchili Buys Multifamily Property In Central Ventura For $10.1M
SOLD
$10,100,000
+ 1
California
See Similar DealsMultiFamily29,862 SF
Sold 02/08/2022
SOLD
Srinivas Yalamanchili Buys Multifamily Property In Central Ventura For $10.1M
248 South Hemlock Street, Ventura, California 93001, United States
See Similar DealsMultiFamily29,862 SF
Sold 02/08/2022
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$338
Total Square Footage:29,862 SF
Transaction Type:Sale
The multifamily property located at 248 South Hemlock St. in Central Ventura has been sold in a closed transaction. The sale was completed on 02/08/2022, with a sale price of $10,100,000. The property consists of 35 units, with an average price per unit (PPU) of $288,571. The total square footage of the property is 29,862, with a price per square foot (PPSF) of $338.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $10,100,000
- Address: 248 South Hemlock St.
- Market: Central Ventura
- Units: 35
- PPU: $288,571
- Square Footage: 29,862
- PPSF: $338
Srinivas Yalamanchili purchased the property from Sam Lam. The deal was facilitated by brokers Daniel Withers, Dave Harrington, and John Boyett from Matthews Real Estate Investment Services.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$538,666.68
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$35,883.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,879.15
Annual Debt Service$574,549.83
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