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Hillcrest Equity Partners LLC Acquires 5-Unit Multifamily Property In San Diego For $2.1M
SOLD
$2,100,000
+ 1
California
See Similar DealsMultiFamily
Sold 08/01/2023
SOLD
Hillcrest Equity Partners LLC Acquires 5-Unit Multifamily Property In San Diego For $2.1M
3925 Georgia St San Diego, CA 92103, USA
See Similar DealsMultiFamily
Sold 08/01/2023
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
A five-unit apartment property in San Diego's Hillcrest neighborhood has been sold for $2.1 million. The property, located at 3925 Georgia Street, offers well-maintained two-bedroom/two-bath units with significant rental upside. The transaction received multiple competitive offers, indicating the desirability of the property in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Units: 5
- Price per Unit: $420,000
- Address: 3925 Georgia Street
- Market: San Diego
The sale of this multifamily property was facilitated by the brokers, Connor Stolle, Carson Trujillo, Austin Huffman, and Chris Zorbas from Marcus & Millichap. Their expertise in the real estate market and negotiation skills played a crucial role in successfully closing the deal. Hillcrest Equity Partners LLC emerged as the buyer, recognizing the potential of this investment opportunity.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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