Updated Oct 29, 2024
Imperial Properties Acquires Multifamily Property On Wake Ave In El Centro For $9.6M
699 Wake Ave, El Centro, CA 92243, USA
$9,600,000
$134/SF
Building Size
71,250 SF
Asset Type
MultiFamily
Closing
Aug 4, 2020
About this deal
AI
Located at 699 Wake Ave in El Centro, this multifamily property was recently sold in a closed transaction. The property spans a total of 71,250 square feet and was purchased for a price of $9,600,000, resulting in a price per square foot of $134.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,600,000
- SF: 71,250
- PPSF: $134
- Market: El Centro
The buyer involved in this transaction is Imperial Properties, while the seller is Villas Bonita LCC. Representing the buyer in the deal is Ricardo Lopez from ACI Apartments, and Steve Willmore & Erik Faucett from Lee & Associates acted as the brokers.
Players
El Centro 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93