Marcus & Millichap Sells Birch Terrace Apartments In Brea For $13.6M
601 E Birch St Brea, Ca 92821, Usa
$13,605,000
Building Size
—
Asset Type
MultiFamily
Closing
May 31, 2023
AI
Birch Terrace Apartments, a fully renovated multifamily property located at 601, 613, & 617 East Birch Street in Brea, California, has been sold for $13.6 million. The transaction was handled by Marcus & Millichap, who also arranged $5 million in acquisition financing through Marcus & Millichap Capital Corporation.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,605,000
- Units: 36
- Price Per Unit: $377,917
- Market: Brea
Nick Kazemi, Tyler Leeson, and Matt Kipp, representing Marcus & Millichap, played a crucial role in the sale of Birch Terrace Apartments. Michael Derk, from Marcus & Millichap Capital Corporation, served as the mortgage broker for the $5 million acquisition financing.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.17%
Cash-on-Cash
-0.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93