Peter Hauser of Northmarq Represents Seller in $18.58M Riverside Multifamily Sale
SOLD
$18,575,000
California
See Similar DealsMultiFamily45,008 SF
Sold 11/01/2024
SOLD
Peter Hauser of Northmarq Represents Seller in $18.58M Riverside Multifamily Sale
4680 Mitchell Avenue
See Similar DealsMultiFamily45,008 SF
Sold 11/01/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$412
Total Square Footage:45,008 SF
Transaction Type:Sale
The property asset involved in the transaction is a multifamily unit located at 4680 Mitchell Avenue in Riverside. It comprises 56 units with a total square footage of 45,008. The sale price for this multifamily property was $18,575,000, resulting in a price per unit of $331,696 and a price per square foot of $412.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $18,575,000
- Units: 56
- Square Footage: 45,008
- Price Per Unit: $331,696
- Price Per Square Foot: $412
- Buyer's Representative: Avi Narang - BRC Advisors
- Seller's Representatives: Peter Hauser & Shane Shafer - NorthMarq
- Date of Transaction: 11/01/2024
The transaction was facilitated through the collaboration of brokers, with Avi Narang representing the buyer and both Peter Hauser and Shane Shafer representing the seller. The notable teamwork contributed to the successful closure of the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$990,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$65,993.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$88,054.98
Annual Debt Service$1,056,659.72
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