Versity Investment LLC Acquires MultiFamily Property At 372 4th Ave San Diego For $71.55M
SOLD
$71,550,000
California
See Similar DealsMultiFamily
Sold 10/01/2021
SOLD
Versity Investment LLC Acquires MultiFamily Property At 372 4th Ave San Diego For $71.55M
372 4th Ave
See Similar DealsMultiFamily
Sold 10/01/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The asset involved in the transaction is a MultiFamily property located at 372 4th Ave in San Diego. The transaction was completed for a total of $71,550,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $71,550,000.00
- Address: 372 4th Ave
- Market: San Diego
- Buyer: Versity Investment, LLC
- Broker: Derrek Ostrzyzek, CBRE
- Sale Date: 10/01/2021
Derrek Ostrzyzek from CBRE represented the buyer, Versity Investment, LLC, in this transaction. The deal closed on October 1, 2021, marking a significant acquisition in the San Diego market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,816,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$254,202.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$339,183.50
Annual Debt Service$4,070,202.04
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