Highlands REIT Acquires 27-Unit Multifamily Property In San Diego For $7.3M
SOLD
$7,300,000
California
See Similar DealsMultiFamily10,630 SF
Sold 05/04/2020
SOLD
Highlands REIT Acquires 27-Unit Multifamily Property In San Diego For $7.3M
470 20th St, San Diego, CA 92102, USA
See Similar DealsMultiFamily10,630 SF
Sold 05/04/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$686
Total Square Footage:10,630 SF
Transaction Type:Sale
Highlands REIT has acquired a multifamily property located at 470 20th St in San Diego. The property consists of 27 units and was sold by SENTRE for a total price of $7,300,000. This translates to a price per unit of $270,370.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,300,000
- Units: 27
- Price Per Unit: $270,370
- Buyer: Highlands REIT
- Seller: SENTRE
- Brokers: Ed Rosen, John Chu & Tyler Sinks – Berkadia
Ed Rosen, John Chu, and Tyler Sinks from Berkadia represented the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$389,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,935.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,605.72
Annual Debt Service$415,268.69
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