William Bugenhagen Sells Multifamily Property At 870 Diamond Street In San Diego For $11.25M
SOLD
$11,250,000
California
See Similar DealsMultiFamily15,440 SF
Sold 07/10/2024
SOLD
William Bugenhagen Sells Multifamily Property At 870 Diamond Street In San Diego For $11.25M
870 Diamond Street
See Similar DealsMultiFamily15,440 SF
Sold 07/10/2024
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$728
Total Square Footage:15,440 SF
Transaction Type:Sale
The asset involved in the transaction is a multifamily property located at 870 Diamond Street in the San Diego market. The property features a total of 22 units, encompassing 15,440 square feet. It was sold for $11,250,000, translating to a price per unit of $511,364 and a price per square foot of $729.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,250,000
- Units: 22
- Square Footage: 15,440
- Price Per Unit: $511,364
- Price Per Square Foot: $729
- Seller: William Bugenhagen
- Broker Representatives: Joseph Burrough & Caitlyn de Wit - Palma Commercial
- Date of Transaction: 07/10/2024
Joseph Burrough and Caitlyn de Wit represented Palma Commercial in the transaction. Their involvement facilitated the deal, highlighting the professional network engaged in the sale of this multifamily asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$600,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,968.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,330.74
Annual Debt Service$639,968.87
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