Adam Robinson Acquires MultiFamily In San Diego For $23.6M
SOLD
$23,600,000
California
See Similar DealsMultiFamily32,440 SF
Sold 08/11/2023
SOLD
Adam Robinson Acquires MultiFamily In San Diego For $23.6M
4657-85 Muir Ave, San Diego, CA 92107
See Similar DealsMultiFamily32,440 SF
Sold 08/11/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$727
Total Square Footage:32,440 SF
Transaction Type:Sale
A multi-family property located at 4657-85 Muir Avenue & 4682-92 West Point Loma Boulevard in San Diego has been sold for a total price of $23,600,000. This property consists of 44 units with an average price per unit of $536,364. The total square footage of the property is 32,440, resulting in a price per square foot of $727.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $23,600,000
- Units: 44
- Average Price Per Unit: $536,364
- Square Footage: 32,440
- Price Per Square Foot: $727
- Address: 4657-85 Muir Avenue & 4682-92 West Point Loma Boulevard, San Diego
- Market: San Diego
The buyer in this transaction is Adam Robinson, while the seller is Michael Mills. The broker representing the buyer and seller is Joseph Burrough from Palma Commercial.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,258,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$83,845.81
Cash-on-Cash Return-1.27%
Monthly Debt Service$111,876.04
Annual Debt Service$1,342,512.48
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