Updated Dec 21, 2023
CBRE Brokers $28M Sale Of 75-unit Multifamily Property In Inland Empire
840 South Magnolia Avenue, Monrovia, California 91016, United States
$28,000,000
$462/SF
Building Size
60,574 SF
Asset Type
MultiFamily
Closing
Dec 6, 2021
About this deal
AI
An investment property located at 840 S. Magnolia Avenue in Inland Empire has been sold in a recent transaction. The multifamily asset was sold by Eric Chen of CBRE. The sale price for the property was $28,000,000. The property consists of 75 units, with a price per unit of $373,333. The total square footage of the property is 60,574, with a price per square foot of $462.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,000,000
- Units: 75
- Price Per Unit: $373,333
- Square Footage: 60,574
- Price Per Square Foot: $462
- Address: 840 S. Magnolia Avenue
- Market: Inland Empire
The sale was facilitated by Eric Chen, a broker from CBRE. Chen represented the parties involved in the transaction, serving as their representative and ensuring a successful deal.
Players
Monrovia 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
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93