Updated Dec 21, 2023
Mike Nijjar Acquires Multifamily Property In Colton For $3.19M
580 West E Street, Colton, CA, USA
$3,190,000
$265/SF
Building Size
12,030 SF
Asset Type
MultiFamily
Closing
Jun 7, 2021
About this deal
AI
The multifamily property located at 580 West E Street in Colton was recently sold. The property consists of 22 units with a total square footage of 12,030. The sale price for this transaction was $3,190,000, resulting in a price per unit of $145,000. The price per square foot was calculated to be $265. The Gross Rent Multiplier (GRM) was determined to be 10.91x, while the Capitalization Rate (CAP) stood at 5.20%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,190,000
- Address: 580 West E Street
- Market: Colton
- Units: 22
- Price per Unit (PPU): $145,000
- Square Footage (SF): 12,030
- Price per Square Foot (PPSF): $265
- Gross Rent Multiplier (GRM): 10.91x
- Capitalization Rate (CAP): 5.20%
The buyer of the property was Mike Nijjar, while the seller was David Kaplan. The deal was facilitated by brokers Eric Chen, Blake Torgerson, and Melinda Russell.
On the Map
$3,190,000
$265/SF
MultiFamily
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Players
Colton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.97%
Cash-on-Cash
-1.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93