Updated Dec 4, 2024
Marcus & Millichap Sets Per-Unit Price Record For Talmadge Luxury Apartments In $6.3M Sale
4475 49th Street
$6,300,000
Units
12
Asset Type
MultiFamily
Closing
Oct 20, 2023
About this deal
AI
The 12-unit Tavarua Luxury Apartments located at 4475 49th Street in San Diego's Talmadge neighborhood have been sold for a record-breaking price of $6.3 million. The property, which features upscale modern upgrades, was sold by 4475 49th St LLC to California Limited Partnership. This transaction sets a per-unit price record for the area, with each unit priced at $525,000.
Summary of transation details
- Property Type: MultiFamily
- Transaction Amount: $6,300,000
- Address: 4475 49th Street, San Diego
- Market: San Diego
- Buyer: California Limited Partnership
- Seller: 4475 49th St LLC
- Brokers: Austin Ray Huffman, Ben Sierpina, Christopher (Chris) Zorbas & Raymond Choi - Marcus & Millichap
- Units: 12
- PPU: $525,000
The deal was brokered by Marcus & Millichap's team, with Austin Ray Huffman, Ben Sierpina, Christopher (Chris) Zorbas, and Raymond Choi representing the brokerage firm. The buyer was procured by Marcus & Millichap's San Diego Downtown office.
It is worth noting that the Tavarua Luxury Apartments stood out due to its exceptional modern upgrades, contributing to the high sale price and setting a new record in the neighborhood.
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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93