Property West Residential Acquires Oceanside Multifamily For $110M
SOLD
$110,000,000
California
See Similar DealsMultiFamily1,235 SF
Sold 08/16/2020
SOLD
Property West Residential Acquires Oceanside Multifamily For $110M
4795 Frazee Rd, Oceanside, CA, USA
See Similar DealsMultiFamily1,235 SF
Sold 08/16/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$89,068
Total Square Footage:1,235 SF
Transaction Type:Sale
The multifamily property located at 4795 Frazee Rd. in Oceanside has been sold for a total of $110,000,000. The transaction took place on 08/16/2021. The property, consisting of 284 units, was acquired by Property West Residential from the seller, FPA Multifamily. The sale price results in a per unit price of $387,324.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $110,000,000
- Address: 4795 Frazee Rd.
- Market: Oceanside
The buyer, Property West Residential, successfully completed the acquisition with the assistance of brokers Christopher J. Zorbas, Tyler Martin, and Alexander Garcia Jr. from Institutional Property Advisors. Marcus & Millichap, represented by Christopher J. Zorbas, Tyler Martin, and Alexander Garcia Jr., facilitated the deal on behalf of the seller, FPA Multifamily.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$5,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$390,806.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$521,456.12
Annual Debt Service$6,257,473.43
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