Carlsbad Shores LLC Acquires La Mesa Multifamily For $8.15M
SOLD
$8,150,000
California
See Similar DealsMultiFamily27,510 SF
Sold 06/07/2021
SOLD
Carlsbad Shores LLC Acquires La Mesa Multifamily For $8.15M
8171 Vincetta Drive, La Mesa, CA, USA
See Similar DealsMultiFamily27,510 SF
Sold 06/07/2021
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$296
Total Square Footage:27,510 SF
Transaction Type:Sale
The multifamily property located at 8171 Vincetta Drive in La Mesa has been sold for a total of $8,150,000. The transaction was completed on 06/07/2021. The property consists of 26 units, with a price per unit of $313,461.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,150,000
- Units: 26
- Price Per Unit: $313,461
- Market: La Mesa
The buyer of the property is Carlsbad Shores LLC, while the seller is Thomas L. Ragland Trust. Austin Ray Huffman & Christopher J. Zorbas from Marcus & Millichap represented both parties as brokers in the deal.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$434,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,955.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,635.16
Annual Debt Service$463,621.90
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