Updated Oct 29, 2024
Robert Veeh Acquires Montrose Multifamily Property For $12.25 Million With Reps Brandon Saadian & Tom Park
2709 Piedmont Avenue, Montrose, CA 91020, USA
$12,250,000
$380/SF
Building Size
32,230 SF
Asset Type
MultiFamily
Closing
Feb 6, 2020
About this deal
AI
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.
On the Map
$12,250,000
$380/SF
MultiFamily
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Players
Montrose MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93