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Marcus & Millichap Sells Carlsbad Multifamily Property For $8.5M
SOLD
$8,500,000
California
See Similar DealsMultiFamily
Sold 06/06/2023
SOLD
Marcus & Millichap Sells Carlsbad Multifamily Property For $8.5M
312 Hemlock Ave Carlsbad, CA 92008, USA
See Similar DealsMultiFamily
Sold 06/06/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
A four-unit apartment property located at 312 Hemlock Ave. in Carlsbad has been sold for $8.5 million. The brand-new construction townhome community, situated near the beach and Carlsbad Village, attracted a private investor in an off-market transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Units: 4
- Price Per Unit: $2,125,000
The sale of the property was facilitated by Conor Brennan and Adrian Grobelny from Marcus & Millichap. They represented the buyer and seller in the transaction.
NOTE: This transaction was an off-market deal, and the sale attracted a private investor for the four-unit apartment property at 312 Hemlock Ave. in Carlsbad.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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