facebook
Traded Co logo
Submit
Daily limit: 0/10

Southern California Investor Acquires 152-Unit Laurel Glen Multifamily In Manteca For $40.75M

Property Image
SOLD
$40,750,000
Nazli Santana
Otto Ozen
Brian Nakamura

California

See Similar Deals
MultiFamily
Sold 09/13/2024
the dealplayerscompscontact
Property Image
SOLD

Southern California Investor Acquires 152-Unit Laurel Glen Multifamily In Manteca For $40.75M

574 Button Avenue

See Similar Deals
MultiFamily
Sold 09/13/2024
Nazli Santana
Otto Ozen
Brian Nakamura
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

A Southern California-based private investor has acquired a multifamily property located at 574 Button Avenue, Manteca, for a total consideration of $40.75 million. The asset, known as Laurel Glen, comprises 152 units with a price per unit of approximately $268,000. The property was constructed in 1985 and features both one- and two-bedroom units equipped with modern amenities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $40,750,000
  • Units: 152
  • Price Per Unit: $268,092
  • Address: 574 Button Avenue
  • Market: Manteca

The transaction was facilitated by brokers Brian Nakamura, Nazli Santana, and Otto Ozen, representing The Mogharebi Group. The seller was a Northern California investor who completed the deal through this representation.

Players

Otto Ozen
The Mogharebi Group
Otto Ozen
24 deals$670.7M volume
BROKER
Nazli Santana
The Mogharebi Group
Nazli Santana
3 deals$113M volume(909) 371-1324
BROKER
Brian Nakamura
The Mogharebi Group
Brian Nakamura
5 deals$155.8M volume(909) 235-7889
BROKER

Details

SOLD
IMAGE: Brian Nakamura, Nazli Santana & Otto Ozen DATE: 09/13/2024 ADDRESS: 574 Button Avenue MARKET: Manteca ASSET TYPE: Multifamily BROKERS: Brian Nakamura (@Brian.Nakamura_), Nazli Santana & Otto Ozen - The Mogharebi Group SALE PRICE: $40,750,000 UNITS: 152 ~ PPU: $268,092 NOTE: A Southern California-based private investor has acquired Laurel Glen, a 152-unit multifamily property in Manteca, Northern California, for $40.75 million, or approximately $268,000 per unit. The 1985-built property, featuring one- and two-bedroom units with modern amenities, was sold by a Northern California investor with representation from The Mogharebi Group.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,173,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$144,776.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$193,175.79
Annual Debt Service$2,318,109.48