Updated Sep 9, 2024
The Mogharebi Group Facilitates $11.25M Sale Of 44-Unit Multifamily Property In Palm Springs
2900 North Indian Canyon Drive, Palm Springs, California 92262, United States
$11,250,000
Units
44
Asset Type
MultiFamily
Closing
Nov 22, 2022
About this deal
AI
The multifamily property located at 2900 N. Indian Canyon Dr in Palm Springs, CA has been sold. The property spans across 3.86 acres and features 44 units. The transaction was brokered by Otto Ozen from The Mogharebi Group. The sale occurred on 11/22/2022.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $11,250,000
- Units: 44
- Price per Unit (PPU): $255,682
- Acres: 3.86
- Market: Palm Springs, CA
This transaction represents a significant sale in the Palm Springs area. The property offers a total of 44 units and spans across 3.86 acres. The sale price of $11,250,000 translates to a price per unit (PPU) of $255,682. The broker, Otto Ozen from The Mogharebi Group, played a critical role in facilitating the transaction.
Players
Palm Springs 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
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93