Marcus & Millichap Sells San Diego Multifamily On S. Bancroft St. For $3.5M
SOLD
$3,500,000
California
See Similar DealsMultiFamily9,775 SF
Sold 07/05/2022
SOLD
Marcus & Millichap Sells San Diego Multifamily On S. Bancroft St. For $3.5M
614 South Bancroft Street, San Diego, California 92113, United States
See Similar DealsMultiFamily9,775 SF
Sold 07/05/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$358
Total Square Footage:9,775 SF
Transaction Type:Sale
The multifamily property located at 614-632 S. Bancroft St. in San Diego has been sold in a recent transaction. The sale was facilitated by Graeme Henderson and Wyatt Darien of Marcus & Millichap. The property consists of 12 units, with a selling price of $3,500,000. This translates to a price per unit (PPU) of $291,666.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $3,500,000
- Units: 12
- Price Per Unit (PPU): $291,666
- Address: 614-632 S. Bancroft St.
- Market: San Diego
Graeme Henderson and Wyatt Darien, representing Marcus & Millichap, played a crucial role in the transaction as the seller's representatives. They worked diligently to ensure the successful sale of the multifamily property on Bancroft Street.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$186,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,434.75
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,591.79
Annual Debt Service$199,101.43
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