Benjamin Jiang's Tesseract Capital Group Acquires Multifamily Property In El Sobrante For $9.1M
SOLD
$9,093,000
California
See Similar DealsMultiFamily46,994 SF
Sold 03/17/2021
SOLD
Benjamin Jiang's Tesseract Capital Group Acquires Multifamily Property In El Sobrante For $9.1M
4481 Appian Way, El Sobrante, CA, USA
See Similar DealsMultiFamily46,994 SF
Sold 03/17/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$193
Total Square Footage:46,994 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$484,960.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$32,305.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$43,105.46
Annual Debt Service$517,265.51
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