Daniel Talamentes Acquires Multifamily Property On Requa Ave In Riverside For $14.15M
SOLD
$14,150,000
California
See Similar DealsMultiFamily61,888 SF
Sold 02/01/2022
SOLD
Daniel Talamentes Acquires Multifamily Property On Requa Ave In Riverside For $14.15M
82435 Requa Avenue, Indio, California 92201, United States
See Similar DealsMultiFamily61,888 SF
Sold 02/01/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$228
Total Square Footage:61,888 SF
Transaction Type:Sale
Located at 82435 Requa Ave in Riverside, this multifamily property was recently sold in a closed transaction. The property consists of 74 units spread across 61,888 square feet. The sale price for this transaction was $14,150,000, resulting in a per unit price of $191,216. The price per square foot was $228, highlighting the value of this asset in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,150,000
- Units: 74
- Price Per Unit: $191,216
- Square Footage: 61,888
- Price Per Square Foot: $228
The buyer in this transaction was Daniel Talamentes, while the seller was Dominick Veliko-Shapko. Representing both parties in the deal were Cray A. Carlson and Kevin Sin of CBRE. They played a pivotal role in facilitating the successful sale of this multifamily property in Riverside.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$754,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$50,271.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$67,078.22
Annual Debt Service$804,938.63
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