Avanath Capital Management Acquires Multifamily Property In Mission Bay For $96M
SOLD
$96,000,000
California
See Similar DealsMultiFamily
Sold 05/30/2022
SOLD
Avanath Capital Management Acquires Multifamily Property In Mission Bay For $96M
420 Berry Street, San Francisco, California 94158, United States
See Similar DealsMultiFamily
Sold 05/30/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 420 Berry St. in Mission Bay has been sold for a total of $96,000,000. The transaction took place on May 31, 2022. The property spans across 3.6 acres and consists of 236 units. The price per unit stands at $407,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $96,000,000
- Address: 420 Berry St.
- Market: Mission Bay
- Acres: 3.6
The buyer of the property is Avanath Capital Management, represented by Daryl Carter. The seller, on the other hand, is Related Companies California and Chinatown Community Development Center.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,119,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$341,067.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$455,088.98
Annual Debt Service$5,461,067.72
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