Updated Oct 28, 2024
California Statewide Community Development Authority & Waterford Property Company Acquire Multifamily Asset In Pomona
777 East 3rd Street, Pomona, CA, USA
$149,400,000
$889/SF
Building Size
167,894 SF
Asset Type
MultiFamily
Closing
Dec 6, 2021
About this deal
AI
The multifamily property located at 777 E. 3rd Street in Pomona has been sold for $149,400,000. The sale, which took place on 12/06/2021, involved a total of 472 units, resulting in a per unit price of $315,677. The property was owned by Picerne Residential.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $149,400,000
- Address: 777 E. 3rd Street, Pomona
- Market: Pomona
The buyer in this transaction was the California Statewide Community Development Authority and Waterford Property Company, represented by Sean Rawson and John Drachman. The seller, Picerne Residential, successfully closed the deal at the aforementioned sale price.
Players
Pomona 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93