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8171 Vincetta Drive, La Mes...

Carlsbad Shores LLC Acquires La Mesa Multifamily For $8.15M
SOLDMultiFamily

Carlsbad Shores LLC Acquires La Mesa Multifamily For $8.15M

8171 Vincetta Drive, La Mesa, CA, USA

$8,150,000

$296/SF

Building Size

27,510 SF

Asset Type

MultiFamily

Closing

Jun 6, 2021

AI

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

Christopher Zorbas

Marcus & Millichap

Broker

$739.8M

vol

20 deals

Broker
Institutional Property Advisors
Institutional Property AdvisorsBrokerage

La Mesa 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

1.95%

Cash-on-Cash

-0.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93