29th Street Capital Acquires Multifamily Asset In Oceanside For $97.5M
SOLD
$97,500,000
California
See Similar DealsMultiFamily7,472 SF
Sold 02/16/2022
SOLD
29th Street Capital Acquires Multifamily Asset In Oceanside For $97.5M
3851 Sherbourne Drive, Oceanside, California 92056, United States
See Similar DealsMultiFamily7,472 SF
Sold 02/16/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$13,048
Total Square Footage:7,472 SF
Transaction Type:Sale
The multifamily property located at 3851 Sherbourne Dr. in Oceanside has been sold for a price of $97,500,000. The transaction took place on February 16, 2022. The property consists of 240 units, with each unit having a price per unit (PPU) of $406,250.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $97,500,000
- Address: 3851 Sherbourne Dr.
- Market: Oceanside
The buyer in this transaction is 29th Street Capital, represented by Jason de Guzman. The seller is Ideal Capital Group. The broker involved in the deal is Hunter Combs from Walker & Dunlop.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,200,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$346,396.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$462,199.74
Annual Debt Service$5,546,396.91
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