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Marcus & Millichap Sells Beachmont 45-Unit Multifamily In La Habra For $15.6M
SOLD
$15,600,000
California
See Similar DealsMultiFamily
Sold 10/24/2024
SOLD
Marcus & Millichap Sells Beachmont 45-Unit Multifamily In La Habra For $15.6M
400 South Beach Boulevard
See Similar DealsMultiFamily
Sold 10/24/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
A 45-unit beachfront apartment community known as Beachmont located at 400 South Beach Boulevard in La Habra, North Orange County has been sold for $15,600,000. The price per unit for the property comes to approximately $346,667. Recent improvements to the asset include the installation of new windows, roofs, and exterior painting.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $15,600,000
- Units: 45
- Price Per Unit: $346,667
- Brokers: Tyler Leeson & W. Michael Cavner - Marcus & Millichap
- Date of Sale: 10/24/2024
- Address: 400 South Beach Boulevard, La Habra
The transaction was facilitated by Tyler Leeson and W. Michael Cavner, both representing Marcus & Millichap in the deal. The identities of the buyer and seller remain undisclosed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$832,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,423.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,951.96
Annual Debt Service$887,423.50
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