Updated Dec 4, 2024
Interstate Equities Corp. Acquires 60-Unit Multifamily Property In Union City For $15M
3900 Horner Street
$15,000,000
Units
60
Asset Type
MultiFamily
Closing
Nov 1, 2023
About this deal
AI
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.
On the Map
$15,000,000
MultiFamily
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Players
Union City 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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93