facebook
Traded Co logo
Submit

Palms On Park San Diego LP Acquires Multifamily Property In East Village For $7.8M

Property Image
SOLD
$7,800,000

California

See Similar Deals
MultiFamily32,750 SF
Sold 08/31/2021
the dealplayerscompscontact
Property Image
SOLD

Palms On Park San Diego LP Acquires Multifamily Property In East Village For $7.8M

509 Park Blvd, Downtown San Diego, San Diego, CA, USA

See Similar Deals
MultiFamily32,750 SF
Sold 08/31/2021
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$238
Total Square Footage:32,750 SF
Transaction Type:Sale

Located at 509 Park Blvd in the East Village market, this multifamily property was recently sold in a transaction on 08/31/2021. The property consists of 78 units with a total area of 32,750 square feet. The sale price for this transaction was $7,800,000, resulting in a price per unit of $100,000 and a price per square foot of $238.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,800,000
  • Units: 78
  • Price per Unit: $100,000
  • Square Footage: 32,750
  • Price per Square Foot: $238
  • Address: 509 Park Blvd
  • Market: East Village

The buyer of this property is The Palms on Park San Diego LP, while the seller is 12th & A Hotel Partners LP. Representing the buyer in this transaction are Peter Scepanovic and Corey McHenry from Colliers. Will Rigley from Rigley Corp. acted as the seller's representative.

Players

Corey McHenry
9 deals$144.8M volume
BROKER

Peter Scepanovic
Colliers
7 deals$116.4M volume
BROKER

Will Rigley
1 deal$7.8M volume
BROKER

Details

SOLD
IMAGE: Corey McHenry & Peter Scepanovic DATE: 08/31/2021 ADDRESS: 509 Park Blvd. MARKET: East Village ASSET TYPE: Multifamily BUYER: The Palms on Park San Diego LP SELLER: 12th & A Hotel Partners LP BUYER’S REP: Peter Scepanovic & Corey McHenry - Colliers SELLER’S REP: Will Rigley - Rigley Corp. SALE PRICE: $7,800,000 UNITS: 78 ~ PPU: $100,000 SF: 32,750 ~ PPSF: $238

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$415,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$27,711.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,975.98
Annual Debt Service$443,711.75