Updated Dec 4, 2024
J&L Multifamily Properties Acquires 6-Unit Property In San Diego For $3M
5018 Saratoga Avenue
$3,000,000
Units
6
Asset Type
MultiFamily
Closing
Jun 3, 2024
About this deal
AI
A 6-unit apartment property located at 5018-22 Saratoga Avenue in San Diego has been sold for $3 million, at a rate of $500,000 per unit. The transaction involved J&L Multifamily Properties, LLC as the buyer and Fred Deluca as the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Address: 5018-22 Saratoga Avenue
- Market: San Diego
- Units: 6
Conor Brennan from Marcus & Millichap represented J&L Multifamily Properties, LLC as the buyer's representative in the deal, while Brien Metcalf from Coldwell Banker represented Fred Deluca as the seller's representative. The sale of this property on Saratoga Avenue underscores the strength of well-located assets in a challenging commercial market.
On the Map
$3,000,000
MultiFamily
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San Diego 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93