Pace Properties & 4384 Mississippi St LLC Acquires San Diego Multifamily For $8.5M
SOLD
$8,500,000
+ 1
California
See Similar DealsMultiFamily
Sold 05/17/2021
SOLD
Pace Properties & 4384 Mississippi St LLC Acquires San Diego Multifamily For $8.5M
4128 Texas Street, San Diego, CA, USA
See Similar DealsMultiFamily
Sold 05/17/2021
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 4128 Texas St., 3833 Front St., 3837 1st Ave, 4456; 4462 30th St. ; 4128 Texas St in San Diego has been sold in a recent transaction. The property consists of 28 units and was sold for a total price of $8,500,000, resulting in an average price per unit of $303,571.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Units: 28
- Price Per Unit: $303,571
The buyers involved in this transaction are Pace Properties and 4384 Mississippi St LLC. The sale was facilitated by brokers Kip Malo, Chris Collins, Darcy Miramontes, and Jack Piegza from JLL Capital Markets.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$453,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,198.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,294.34
Annual Debt Service$483,532.04
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