facebook
Traded Co logo
Submit
Daily limit: 0/10

Interstate Equities Corp. Acquires 60-Unit Multifamily Property In Union City For $15M

Property Image
SOLD
$15,000,000
Shivu Srinivasan
JC

California

See Similar Deals
MultiFamily
Sold 11/01/2023
the dealplayerscompscontact
Property Image
SOLD

Interstate Equities Corp. Acquires 60-Unit Multifamily Property In Union City For $15M

3900 Horner Street

See Similar Deals
MultiFamily
Sold 11/01/2023
Shivu Srinivasan
JC
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

Summerhill Place Apartments, a 60-unit multifamily property located at 3900 Horner Street in Union City, between Oakland and San Jose, has been sold by an undisclosed seller to Interstate Equities Corp. for $15 million. The sale price of $15 million translates to $250,000 per unit. Summerhill Place Apartments offers one- and two-bedroom apartments with amenities such as ample parking, on-site laundry, and a pool.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Address: 3900 Horner Street
  • Market: Union City
  • Units: 60
  • Price Per Unit: $250,000

Transwestern's Shivu Srinivasan represented the seller in this transaction, while Julia Boyd Corso from Interstate Equities Corp. acted as the buyer's representative. The deal was brokered by Shivu Srinivasan from Transwestern.

Players

Shivu Srinivasan
Transwestern
Shivu Srinivasan
3 deals$74.3M volume
BROKER
JC
Interstate Equities Corp.
Julia Boyd Corso
4 deals$80M volume
BUYER

Details

SOLD
IMAGE: Shivu Srinivasan & Julia Boyd Corso DATE: 11/01/2023 ADDRESS: 3900 Horner Street MARKET: Union City ASSET TYPE: Multifamily BUYER: Interstate Equities Corp. - Julia Boyd Corso BROKER: Shivu Srinivasan (@Shivu1105) - Transwestern (@Transwestern) SALE PRICE: $15,000,000 UNITS: 60 ~ PPU: $250,000 NOTE: Summerhill Place Apartments, a 60-unit multifamily property in Union City, located between Oakland and San Jose, has been sold by an undisclosed seller to Interstate Equities Corp. for $15 million, equivalent to $250,000 per unit. The property features one- and two-bedroom apartments with amenities such as ample parking, on-site laundry, and a pool.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$799,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$53,291.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$71,107.65
Annual Debt Service$853,291.83