Robert Veeh Acquires Montrose Multifamily Property For $12.25 Million With Reps Brandon Saadian & Tom Park
SOLD
$12,250,000
California
See Similar DealsMultiFamily32,230 SF
Sold 02/07/2020
SOLD
Robert Veeh Acquires Montrose Multifamily Property For $12.25 Million With Reps Brandon Saadian & Tom Park
2709 Piedmont Avenue, Montrose, CA 91020, USA
See Similar DealsMultiFamily32,230 SF
Sold 02/07/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$380
Total Square Footage:32,230 SF
Transaction Type:Sale
The multifamily property located at 2709 Piedmont Avenue in Montrose has been sold for a total price of $12,250,000. The property spans across 32,230 square feet and has a price per square foot of $380. It consists of 20 units, resulting in a price per unit of $612,500. The sale was finalized on February 7, 2020.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $12,250,000
- Address: 2709 Piedmont Avenue
- Market: Montrose
- Square Footage: 32,230
- Price per Square Foot: $380
- Number of Units: 20
- Price per Unit: $612,500
The seller of the property was Ed Den Investment Co, while the buyer was Robert Veeh. The deal was facilitated by brokers Brandon Saadian and Tom Park.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$653,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$43,521.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$58,071.25
Annual Debt Service$696,855.00
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