ALS Spring Mountain LLC Sells Multifamily Property In Clairemont For $21.7M With Brokers Tyler Sinks, John Chu & Edward Rosen - Berkadia
SOLD
$21,700,000
California
See Similar DealsMultiFamily2,060 SF
Sold 05/19/2022
SOLD
ALS Spring Mountain LLC Sells Multifamily Property In Clairemont For $21.7M With Brokers Tyler Sinks, John Chu & Edward Rosen - Berkadia
5385 Clairemont Mesa Boulevard, San Diego, California 92117, United States
See Similar DealsMultiFamily2,060 SF
Sold 05/19/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$10,534
Total Square Footage:2,060 SF
Transaction Type:Sale
Located at 5385 Clairemont Mesa Blvd. in Clairemont, this property is a multifamily asset that was recently sold.
Summary of Transaction Details
- Property Type: Multifamily
- Sale Price: $21,700,000
- Number of Units: 66
- Price Per Unit: $325,757
- Market: Clairemont
The sale was facilitated by ALS Spring Mountain LLC as the seller. The brokerage team comprised of Tyler Sinks, John Chu, and Edward Rosen from Berkadia.
This transaction represents a significant investment in the Clairemont area, demonstrating the demand for multifamily properties in this market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,157,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,095.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$102,869.07
Annual Debt Service$1,234,428.85
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