Imperial Properties Acquires Multifamily Property On Wake Ave In El Centro For $9.6M
SOLD
$9,600,000
California
See Similar DealsMultiFamily71,250 SF
Sold
SOLD
Imperial Properties Acquires Multifamily Property On Wake Ave In El Centro For $9.6M
699 Wake Ave, El Centro, CA 92243, USA
See Similar DealsMultiFamily71,250 SF
Sold
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$134
Total Square Footage:71250 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$511,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,106.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,508.90
Annual Debt Service$546,106.77
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