Sumi Dave Acquires Multifamily In Ridgecrest, California For $7.14M

A multifamily property located at 800 S Norma St in Ridgecrest, California has been sold in a closed transaction. The property consists of 66 units with a total square footage of 55,228. The sale price for this multifamily asset was $7,140,000, resulting in a per unit price of approximately $108,182. The price per square foot was approximately $129.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,140,000
• Address: 800 S Norma St, Ridgecrest, California
• Market: Ridgecrest, California
• Buyer: Sumi Dave
• Seller: Srinivas Yalamanchili
• Broker: Cray A. Carlson - CBRE
• Units: 66
• Price per Unit: $108,182
• Total Square Footage: 55,228
• Price per Square Foot: $129

The buyer of this multifamily property was Sumi Dave. The seller of the property was Srinivas Yalamanchili. The transaction was facilitated by broker Cray A. Carlson from CBRE.