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Ron Mayer Acquires Fontana Multifamily From Brij Mathur For $3.9M

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SOLD
$3,900,000

California

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MultiFamily16,076 SF
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SOLD

Ron Mayer Acquires Fontana Multifamily From Brij Mathur For $3.9M

8505 Mulberry Avenue, Fontana, California 92335, United States

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MultiFamily16,076 SF
Sold
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$242
Total Square Footage:16076 SF
Transaction Type:Sale

The multifamily property located at 8505 Mulberry Ave. in Fontana has been sold for a total price of $3,900,000. The transaction took place on May 17, 2022. The property consists of 15 units, with a price per unit of $260,000. The total area of the property is 16,076 square feet, resulting in a price per square foot of $242. The buyer of the property is Ron Mayer, while the seller is Brij Mathur. The deal was facilitated by Everett Wong from Greysteel.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,900,000
  • Units: 15
  • Price per Unit: $260,000
  • Square Feet: 16,076
  • Price per Square Foot: $242
  • Market: Fontana

Everett Wong from Greysteel represented the buyer Ron Mayer in this transaction. These individuals and companies played key roles in the successful completion of the sale of 8505 Mulberry Ave. in Fontana.

Players

Everett Wong
13 deals$35.9M volume(310) 439-5790
BROKER

Details

SOLD
IMAGE: Everett Wong DATE: 05/17/2022 ADDRESS: 8505 Mulberry Ave. MARKET: Fontana ASSET TYPE: Multifamily BUYER: Ron Mayer SELLER: Brij Mathur BROKER: Everett Wong - Greysteel (@Greysteel_LA) SALE PRICE: $3,900,000 UNITS: 15 ~ PPU: $260,000 SF: 16,076 ~ PPSF: $242

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88