Updated Sep 9, 2024
CBRE Brokers Acquire Riverside Multifamily Property For $14M
3855 Skofstad Street
$14,000,000
$339/SF
Building Size
41,264 SF
Asset Type
MultiFamily
Closing
Jul 22, 2022
About this deal
AI
A multifamily property located at 3855 Skofstad St. in Riverside has been sold. The property consists of 50 units with a price per unit of $280,000, resulting in a total sale price of $14,000,000. The total square footage of the property is 41,264, with a price per square foot of $339.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Units: 50
- Price per Unit: $280,000
- Square Footage: 41,264
- Price per Square Foot: $339
The sale of this multifamily property was facilitated by brokers Eric Chen, Dan Blackwell, and Blake Torgerson from CBRE. They represented the parties involved in the transaction, ensuring a successful deal.
Players
Riverside 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93