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580 West E Street, Colton, ...

Updated Dec 21, 2023

Mike Nijjar Acquires Multifamily Property In Colton For $3.19M
SOLDMultiFamily

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

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$3,190,000

$265/SF

MultiFamily

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Players

Blake Torgerson

CBRE

Broker

$372.1M

vol

57 deals

Broker
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Colton MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $265 per square foot on a published $3.2M for 12,030 square feet (2021).

Visit Melinda Russell to view all their deals.

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

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