Updated Dec 20, 2023
Mark Robbins Acquires Martinez, CA Apartment For $41.5M
486 Morello Avenue, Martinez, California 94553, United States
$41,500,000
$487/SF
Building Size
85,090 SF
Asset Type
MultiFamily
Closing
Mar 29, 2022
About this deal
AI
The apartment property located at 486 Morello Ave in Martinez, CA has been sold for a total price of $41,500,000. The property spans across 85,090 square feet, resulting in a price per square foot of $487. The transaction took place on March 30, 2022. The property is situated in the Martinez market.
Summary of transaction details
- Property Type: Apartment
- Transaction Amount: $41,500,000
- Square Footage: 85,090
- Price per Square Foot: $487
- Address: 486 Morello Ave, Martinez, CA
- Market: Martinez, CA
Mark Robbins purchased the apartment property from Robert H Kennis.
Players
Martinez MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93