Ocean Beach Multifamily Sells For $2.25M By Buyer Adam Stein And Seller Linda Pennell-Williams
SOLD
$2,249,000
California
See Similar DealsMultiFamily2,531 SF
Sold 01/21/2022
SOLD
Ocean Beach Multifamily Sells For $2.25M By Buyer Adam Stein And Seller Linda Pennell-Williams
4781 Long Branch Avenue, San Diego, California 92107, United States
See Similar DealsMultiFamily2,531 SF
Sold 01/21/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$888
Total Square Footage:2,531 SF
Transaction Type:Sale
The property involved in this closed transaction is a multifamily asset located at 4781-4783 Long Branch Ave. & 2121 Sunset Cliffs Blvd. in Ocean Beach. It consists of 5 units with a total square footage of 2,531. The sale price for this property was $2,249,000, resulting in a per unit price of $449,800 and a price per square foot of $888.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,249,000
- Units: 5
- Price per Unit: $449,800
- Square Footage: 2,531
- Price per Square Foot: $888
The buyer of the property is Adam Stein, while the seller is Linda Pennell-Williams. The deal was facilitated by Chris Bonar and Brian Jenkins of Commercial Asset Advisors, who represented both parties in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$119,946.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,990.21
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,661.41
Annual Debt Service$127,936.89
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