Benjamin Jiang's Tesseract Capital Group Acquires Multifamily Property In El Sobrante For $9.1M
4481 Appian Way, El Sobrante, CA, USA
$9,093,000
$193/SF
Building Size
46,994 SF
Asset Type
MultiFamily
Closing
Mar 16, 2021
AI
The multifamily property located at 4481-4489 Appian Way in El Sobrante has been sold. The transaction took place on March 17, 2021, and the property was purchased by Benjamin Jiang of Tesseract Capital Group. The seller of the property was Appian Mf Partners LLC. The property spans approximately 46,994 square feet and was sold for a price of $9,093,000, resulting in a price per square foot of $193.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,093,000
- Address: 4481-4489 Appian Way
- Market: El Sobrante
- Buyer: Benjamin Jiang - Tesseract Capital Group
- Seller: Appian Mf Partners LLC
- Size: 46,994 square feet
- Price per Square Foot: $193
This transaction highlights the involvement of Benjamin Jiang from Tesseract Capital Group as the buyer, along with Appian Mf Partners LLC as the seller. The deal showcased the increasing demand for multifamily properties in the El Sobrante market.
El Sobrante 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
1.74%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93