Gelt Acquires Anaheim Multifamily Property For $146.5M
SOLD
$146,500,000
California
See Similar DealsMultiFamily126,877 SF
Sold 09/10/2021
SOLD
Gelt Acquires Anaheim Multifamily Property For $146.5M
3530 East La Palma Avenue, Anaheim, CA, USA
See Similar DealsMultiFamily126,877 SF
Sold 09/10/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$1,154
Total Square Footage:126,877 SF
Transaction Type:Sale
Anaheim multifamily property located at 3530 E. La Palma Avenue was recently sold for a total of $146,500,000. The transaction took place on September 10, 2021, with a total of 312 units. The price per unit for this sale was approximately $469,551.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $146,500,000
- Address: 3530 E. La Palma Avenue
- Market: Anaheim
The buyer of this property is Gelt, represented by Steve Wasserman and Keith Wasserman. Steve Wasserman & Keith Wasserman played a key role in this transaction.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$7,813,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$520,483.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$694,484.74
Annual Debt Service$8,333,816.89
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