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3288 5th Ave

MultiFamily Property At 3288 5th Ave San Diego Sold For $51 Million With Derrek Ostrzyzek
SOLDMultiFamily

MultiFamily Property At 3288 5th Ave San Diego Sold For $51 Million With Derrek Ostrzyzek

3288 5th Ave

$51,000,000

Building Size

Asset Type

MultiFamily

Closing

Sep 1, 2024

AI

The property involved in this transaction is a MultiFamily asset located at 3288 5th Ave in the San Diego market. The sale was conducted for a total price of $51,000,000.00.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $51,000,000.00
  • Address: 3288 5th Ave
  • Market: San Diego
  • Brokers: Derrek Ostrzyzek (CBRE)
  • Sale Date: 09/01/2024

Derrek Ostrzyzek from CBRE represented the seller in this transaction. The involvement of a well-known broker adds credibility to the deal while facilitating the process for the stakeholders involved.

Players

Derrek Ostrzyzek

CBRE

Broker

$11.5B

vol

116 deals

Broker
AvalonBay Communities
AvalonBay CommunitiesBuyer

San Diego 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

0.31%

Cash-on-Cash

-0.09%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93