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JRK Property Holdings Acquires 88-Unit Multifamily At 333 Fremont Street In San Francisco For $44.25M
SOLD
$44,250,000
+ 1
California
See Similar DealsMultiFamily
Sold 09/10/2024
SOLD
JRK Property Holdings Acquires 88-Unit Multifamily At 333 Fremont Street In San Francisco For $44.25M
333 Fremont Street
See Similar DealsMultiFamily
Sold 09/10/2024
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved an 88-unit multifamily apartment complex located at 333 Fremont Street in the San Francisco market. The sale price was $44,250,000, resulting in a per unit price of $502,841.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $44,250,000
- Units: 88
- Buyer: Daniel Lippman - JRK Property Holdings
- Seller: ASB Real Estate Investments
- Market: San Francisco
- Brokers: Philip Saglimbeni, Salvatore Saglimbeni, Stanford Jones & Alex Tartaglia - Institutional Property Advisors - Marcus & Millichap
This transaction marks ASB Real Estate Investments' third sale in San Francisco within two months. JRK Property Holdings has expanded its Northern California portfolio to a total of 2,550 units through this acquisition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,359,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$157,210.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$209,767.58
Annual Debt Service$2,517,210.90
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