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Chris Zorbas, Alexander Garcia Jr & Kyle Pinkalla Of IPA Represent Sale Of Terra At Ballantyne For $14.4M
SOLD
$14,400,000
California
See Similar DealsMultiFamily
Sold 07/29/2025
SOLD
Chris Zorbas, Alexander Garcia Jr & Kyle Pinkalla Of IPA Represent Sale Of Terra At Ballantyne For $14.4M
542 Ballantyne Street
See Similar DealsMultiFamily
Sold 07/29/2025
Summary
CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale
A 60-unit multifamily property located at 542 Ballantyne Street in El Cajon was sold for $14,400,000. The property was 97% occupied at the time of the closing, reflecting its strong market presence.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,400,000
- Units: 60
- Price Per Unit: $240,000
- Date of Sale: 07/29/2025
- Market: El Cajon
Chris Zorbas, Alexander Garcia Jr., and Kyle Pinkalla of Institutional Property Advisors - Marcus & Millichap represented both the undisclosed buyer and seller in this transaction, facilitating the sale of Terra at Ballantyne.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$768,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$51,160.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,263.35
Annual Debt Service$819,160.16
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