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6600 Gasol Court, Bakersfie...

Updated Oct 29, 2024

Private Investment Group Acquires MultiFamily In Bakersfield For $22.5M
SOLDMultiFamily

Private Investment Group Acquires MultiFamily In Bakersfield For $22.5M

6600 Gasol Court, Bakersfield, CA, 93...

$22,500,000

Units

114

Asset Type

MultiFamily

Closing

Jun 17, 2019

About this deal

AI

The apartment community known as Mira Sol Gardens, located in Bakersfield, has been sold by LandStone Cos to a private investment group based in Newport Beach for $22.5 million. The property consists of 114 units with modernized interiors, attached two-car garages, and water-saving landscaping. Situated on 11.4 acres in the Far Southwest submarket, the apartments offer a mix of two- and three-bedroom floorplans on Gasol Court, Jerno Drive, and Callado Lane.

Summary of transaction details:

Mark Bonas from The Mogharebi Group and Michael Jordan from Kidder Mathews played crucial roles in representing LandStone Cos, the seller, during the transaction of Mira Sol Gardens. The involvement of these professionals highlights the expertise and negotiation skills brought to the deal by the respective brokerage firms.

On the Map

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$22,500,000

MultiFamily

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Players

Mark Bonas

The Mogharebi Group

Broker

$156.5M

vol

6 deals

Broker
PG
Private Investment GroupBuyer
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Bakersfield 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

0.71%

Cash-on-Cash

-0.20%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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