Updated Oct 28, 2024
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
$7,800,000
$238/SF
Building Size
32,750 SF
Asset Type
MultiFamily
Closing
Aug 31, 2021
About this deal
AI
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
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
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93