The Mogharebi Group Sells 140-Unit Multifamily Property In Bermuda Dunes For $33.6M
SOLD
$33,600,000
California
See Similar DealsMultiFamily72,745 SF
Sold 12/07/2020
SOLD
The Mogharebi Group Sells 140-Unit Multifamily Property In Bermuda Dunes For $33.6M
79090 Avenue 42nd, Bermuda Dunes, CA, USA
See Similar DealsMultiFamily72,745 SF
Sold 12/07/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$461
Total Square Footage:72,745 SF
Transaction Type:Sale
The multifamily property located at 79090 42nd Ave in Bermuda Dunes has been sold in a recent transaction. The sale was facilitated by brokers Alex Mogharebi and Otto Ozen from The Mogharebi Group. The transaction took place on December 7, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,600,000
- Address: 79090 42nd Ave
- Market: Bermuda Dunes
- Number of Units: 140
- Price per Unit: $240,000
This transaction involved a multifamily property comprising 140 units. The property was sold for a total amount of $33,600,000, with each unit costing approximately $240,000. Located at 79090 42nd Ave in Bermuda Dunes, this asset holds value in the thriving multifamily market of the area.
Alex Mogharebi and Otto Ozen from The Mogharebi Group acted as brokers in this transaction. Their expertise and representation significantly contributed to the successful sale of this multifamily property in Bermuda Dunes.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,792,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$119,373.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$159,281.14
Annual Debt Service$1,911,373.70
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