Updated Oct 28, 2024
Universe Holdings Acquires Multifamily Property In Inland Empire For $53.37M
6506 Doolittle Ave
$53,370,000
$416/SF
Building Size
128,195 SF
Asset Type
MultiFamily
Closing
Aug 18, 2022
About this deal
AI
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.
Players
Riverside MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93