Universe Holdings Acquires Multifamily Property In Inland Empire For $53.37M
SOLD
$53,370,000
California
See Similar DealsMultiFamily128,195 SF
Sold 08/18/2022
SOLD
Universe Holdings Acquires Multifamily Property In Inland Empire For $53.37M
6506 Doolittle Ave
See Similar DealsMultiFamily128,195 SF
Sold 08/18/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$416
Total Square Footage:128,195 SF
Transaction Type:Sale
Universe Holdings has acquired a multifamily property located at 6506 Doolittle Ave. in Inland Empire. The property was sold by Pacific Living Properties for a total price of $53,370,000. The transaction took place on 08/18/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $53,370,000
- Units: 160
- Price per Unit: $333,562
- Square Footage: 128,195
- Price per Square Foot: $416
- Address: 6506 Doolittle Ave.
- Market: Inland Empire
The buyer, Universe Holdings, made the purchase through their representative, Kevin Green from Institutional Property Advisors. Pacific Living Properties acted as the seller in the deal. The multifamily property consists of 160 units with a total square footage of 128,195. The price per unit amounts to $333,562, while the price per square foot is $416.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,846,400.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$189,612.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$253,001.03
Annual Debt Service$3,036,012.34
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