MB Equity Acquires Multifamily Property In Glendora For $3.2M
SOLD
$3,200,020
California
See Similar DealsMultiFamily9,164 SF
Sold 01/24/2023
SOLD
MB Equity Acquires Multifamily Property In Glendora For $3.2M
628 Lemar Park Drive
See Similar DealsMultiFamily9,164 SF
Sold 01/24/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$349
Total Square Footage:9,164 SF
Transaction Type:Sale
M.B. Equity, led by Mark & Brian Abernathy, has acquired a multifamily property located at 628 Lemar Park Drive in Glendora. The property consists of 10 units, with a sale price of $3,200,020, equating to a price per unit of $320,002. The total square footage of the property is 9,164, resulting in a price per square foot of $349.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,200,020
- Address: 628 Lemar Park Drive, Glendora
- Market: Glendora
- Buyer: M.B. Equity – Mark & Brian Abernathy
- Seller: Puro Descansando Partners II – Brad Kaplan
- Broker: Shant Sherbetdjian
- Units: 10
- Price per Unit: $320,002
- Square Footage: 9,164
- Price per Square Foot: $349
Shant Sherbetdjian represented the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,667.72
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,369.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.73
Annual Debt Service$182,036.73
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