Vasant Chapatwala Acquires Multifamily Property In Imperial Beach For $5.25M
SOLD
$5,250,000
California
See Similar DealsMultiFamily14,000 SF
Sold 03/09/2022
SOLD
Vasant Chapatwala Acquires Multifamily Property In Imperial Beach For $5.25M
612 Delaware Street, Imperial Beach, California 91932, United States
See Similar DealsMultiFamily14,000 SF
Sold 03/09/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$375
Total Square Footage:14,000 SF
Transaction Type:Sale
The multifamily property located at 612 Delaware St in Imperial Beach, CA has been sold in a recent transaction. The sale was facilitated by Jason Lee from JLM Real Estate.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $5,250,000
- Number of Units: 19
- Price Per Unit: $276,316
- Square Footage: 14,000
- Price Per Square Foot: $375
- Market: Imperial Beach, CA
Vasant Chapatwala acquired the property from the seller, Benjamin Swede. The transaction demonstrates the demand for multifamily assets in Imperial Beach, CA.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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