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321 Tremont Street

Updated Sep 9, 2026

Parker Pinkalla Acquires 62-Unit Multifamily Community From Patrick Gouveia For $8.64M
SOLDMultiFamily

Parker Pinkalla Acquires 62-Unit Multifamily Community From Patrick Gouveia For $8.64M

321 Tremont Street

$8,644,030

$147/SF

Building Size

58,700 SF

Asset Type

MultiFamily

Closing

Sep 3, 2026

About this deal

AI

This transaction involves a multifamily asset located at 321 Tremont Street in Avalon, consisting of 62 units. The property spans 58,700 square feet and was sold for a total consideration of $8,644,030, translating to a price per unit of $139,419 and a price per square foot of $147.

Summary of transaction details:

Tony Azzi and Arteen Zahiri of The Azzi Group at Marcus & Millichap represented Black Rose Catalina, L.P. and procured the buyer, Tailwind Investment Group, in this complex transaction. The deal involved the assignment of a ground lease with Santa Catalina Island Company, HUD/HAP approval, and the assumption of an existing Freddie Mac loan. The transaction is significant for preserving a critical source of affordable housing in the constrained Catalina Island market.

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$8,644,030

$147/SF

MultiFamily

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Players

Tony Azzi

Marcus & Millichap

Broker

$667.7M

vol

71 deals

Broker
Arteen Zahiri
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Arteen Zahiri

Marcus & Millichap

Broker

$184.4M

vol

15 deals

Broker

Parker Pinkalla

Buyer

$8.6M

vol

1 deal

Buyer

Patrick Gouveia

Seller

$8.6M

vol

1 deal

Seller
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Avalon MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $147 per square foot on a published $8.6M for 58,700 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.84%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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