Updated Dec 4, 2024
Flowing Streams LLC Acquires Multifamily Community In Pomona For $9.9M
3016 North Garey Avenue
$9,900,000
Units
44
Asset Type
MultiFamily
Closing
May 2, 2024
About this deal
AI
The North Garey Village Apartments in Pomona have been sold for $9.9 million. The property consists of 44 residences spread across 11 apartment buildings on a 1.5-acre parcel. Located at 3016 N. Garey Ave., the multifamily community offers amenities such as single-car garages, on-site laundry facilities, and select units with fireplaces.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,900,000
- Units: 44
- Price Per Unit: $225,000
- Address: 3016 North Garey Avenue
- Market: Pomona
- ACRES: 1.5
Marcus & Millichap's Douglas McCauley and David Covarrubias represented the seller, Kot and Offenbecher Trust, in the transaction to sell the North Garey Village Apartments. The sale was facilitated by these brokers by successfully procuring the buyer, Flowing Streams LLC.
Players
Pomona 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
1.60%
Cash-on-Cash
-0.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93