Afton Properties Acquires Multifamily Property In Oceanside For $74.1M
SOLD
$74,100,000
California
See Similar DealsMultiFamily198,652 SF
Sold 07/30/2020
SOLD
Afton Properties Acquires Multifamily Property In Oceanside For $74.1M
550 Los Arbolitos Boulevard, Oceanside, CA 92058
See Similar DealsMultiFamily198,652 SF
Sold 07/30/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:198,652 SF
Transaction Type:Sale
A multifamily property located at 550 Los Arbolitos Blvd in Oceanside has been sold for a total of $74,100,000. The property consists of 208 units, resulting in a price per unit of $356,250. The sale took place on July 30, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $74,100,000
- Address: 550 Los Arbolitos Blvd
- Market: Oceanside
- Buyer: Afton Properties
- Seller: 29th Street Capital of Chicago
- Units: 208
- Price per Unit: $356,250
The buyer, Afton Properties, acquired the property from the seller, 29th Street Capital of Chicago. The transaction was facilitated by Christopher J. Zorbas, Alexander Garcia, Jr., and Tyler J. Martin.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,952,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$263,261.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$351,271.80
Annual Debt Service$4,215,261.65
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