Updated Dec 21, 2023
Blake Torgerson Acquires Multifamily Property In Menifee For $6.55M
28378 Encanto Drive, Menifee, Sun City, CA, USA
$6,550,000
$163/SF
Building Size
40,038 SF
Asset Type
MultiFamily
Closing
Apr 7, 2021
About this deal
AI
Located in Menifee, the multifamily property at 28378 Encanto Drive has been sold for a total price of $6,550,000. The transaction took place on April 8, 2021. The property consists of 34 units, with an average price per unit of $192,647. The total area of the property is 40,038 square feet, resulting in a price per square foot of $163. The Gross Rent Multiplier (GRM) for this property is 12.66x, and the Capitalization Rate (CAP) is 4.05%.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,550,000
- Address: 28378 Encanto Drive
- Market: Menifee
The buyer's representative in this transaction was Blake Torgerson from BlakeTorg32, while the seller's representative was Eric Chen from Eric_C_Chen.
Menifee 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
2.42%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93