AZ1 1st Ave 4043 LP Acquires 15-Unit Multifamily In San Diego's Hillcrest For $6.05M
4043 1st Avenue
$6,050,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 8, 2023
AI
A 15-unit apartment building located at 4043 First Ave. in San Diego's Hillcrest neighborhood has recently been sold for $6,050,000. The property, facilitated by Marcus & Millichap, offers potential for value-add due to its proximity to two hospitals.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,050,000
- Address: 4043 1st Avenue, San Diego
- Market: San Diego
- Buyer: AZ1 1st Ave 4043 LP
- Broker: Aaron Bove - Marcus & Millichap
The sale of 4043 First Ave. was facilitated by Aaron Bove from Marcus & Millichap. This transaction highlights the potential for value-add investment in the Hillcrest neighborhood, given its close proximity to two hospitals.
Players
San Diego 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
2.62%
Cash-on-Cash
-0.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93