Interwest Capital Acquires Multifamily Property On 551 E. Riverisde Dr. In Inland Empire For $45.6M
SOLD
$45,606,000
California
See Similar DealsMultiFamily119,650 SF
Sold 06/08/2022
SOLD
Interwest Capital Acquires Multifamily Property On 551 E. Riverisde Dr. In Inland Empire For $45.6M
551 East Riverside Drive, Ontario, California 91761, United States
See Similar DealsMultiFamily119,650 SF
Sold 06/08/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$381
Total Square Footage:119,650 SF
Transaction Type:Sale
Interwest Capital, represented by Alex Roudi, Elliott Burrell, and Chris Nesbitt, has acquired a multifamily property located at 551 E. Riverisde Dr. in the Inland Empire market. The property consists of 142 units with a total square footage of 116,425. The sale price for this transaction was $45,606,000, resulting in a price per unit of $321,169 and a price per square foot of $391.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $45,606,000
- Address: 551 E. Riverisde Dr.
- Market: Inland Empire
The sale of the property was facilitated by Dean Zander and Stew Weston of CBRE acting as the brokers for FPA Multifamily. The involvement of these key individuals and companies sheds light on the successful completion of the transaction.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,432,320.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$162,028.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$216,195.71
Annual Debt Service$2,594,348.49
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