Updated Oct 28, 2024
Equity Street Capital Acquires San Diego Multifamily For $28.1M
2710 Grand Avenue, San Diego, California 92109, United States
$28,100,000
$19,037/SF
Building Size
1,476 SF
Asset Type
MultiFamily
Closing
Feb 3, 2022
About this deal
AI
Equity Street Capital has acquired a multifamily property located at 2710 Grand Ave. in San Diego's market. The property consists of 80 units and was sold by Regency Bay Inn LLC & Wagers Family LP. The transaction was facilitated by Christopher J. Zorbas, Tom McCartin, and Alexander Garcia Jr. of Institutional Property Advisors, who represented both the buyer and seller. Marcus & Millichap served as the brokerage agency for the deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $28,100,000
- Units: 80
- Price Per Unit: $351,250
The acquisition of 2710 Grand Ave. demonstrates Equity Street Capital's investment in the San Diego market. This transaction highlights the expertise of Christopher J. Zorbas, Tom McCartin, and Alexander Garcia Jr. of Institutional Property Advisors, who successfully represented the buyer and seller in the deal. Marcus & Millichap's role as the brokerage agency further contributed to the smooth execution of the transaction.
On the Map
$28,100,000
$19,037/SF
MultiFamily
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Players
San Diego 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93