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MC Properties Acquires Multifamily Property In San Diego For $31.5M

Property Image
SOLD
$31,500,000

California

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MultiFamily
Sold 10/27/2022
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Property Image
SOLD

MC Properties Acquires Multifamily Property In San Diego For $31.5M

4641 Home Avenue, San Diego, California 92105, United States

See Similar Deals
MultiFamily
Sold 10/27/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 4641-4677 Home Ave in San Diego has been sold for a total price of $31,500,000. The sale, which took place on October 27, 2022, involved a total of 87 units, resulting in a price per unit (PPU) of $362,069. The property is owned by AAA Management, represented by Augusto Abraham Arriaga, and was purchased by MC Properties, represented by Leo Mermelstein. The deal was brokered by Northmarq.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $31,500,000
  • Units: 87
  • Price per Unit (PPU): $362,069

Leo Mermelstein, representing MC Properties, acquired the multifamily property located at 4641-4677 Home Ave in San Diego from AAA Management, represented by Augusto Abraham Arriaga. The deal was facilitated by Northmarq, who acted as the broker in the transaction.

Players

2 deals$130.9M volume
SELLER

Details

SOLD
IMAGE: Augusto Abraham Arriaga DATE: 10/27/2022 ADDRESS: 4641-4677 Home Ave MARKET: San Diego ASSET TYPE: Multifamily BUYER: MC Properties - Leo Mermelstein SELLER: AAA Management - Augusto Abraham Arriaga BROKER: Northmarq (@Northmarq) SALE PRICE: $31,500,000 UNITS: 87 ~ PPU: $362,069

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,680,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$111,912.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$149,326.07
Annual Debt Service$1,791,912.85