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Ballast Investments Acquires Multifamily Property In San Francisco For $15.6M

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SOLD
$15,600,000

California

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MultiFamily25,000 SF
Sold 10/25/2022
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SOLD

Ballast Investments Acquires Multifamily Property In San Francisco For $15.6M

899 Green Street, San Francisco, California 94133, United States

See Similar Deals
MultiFamily25,000 SF
Sold 10/25/2022
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$624
Total Square Footage:25,000 SF
Transaction Type:Sale

Located at 899 Green Street in the bustling market of San Francisco, this multifamily property was recently sold in a closed transaction. The property spans 25,000 square feet, offering ample space for its occupants. The sale took place on October 25, 2022, with a sale price of $15,600,000. This amounts to a per unit price of $410,526, considering the property's 38 units. The price per square foot stands at $624.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $15,600,000
  • Address: 899 Green Street, San Francisco
  • Units: 38
  • Price per Unit: $410,526
  • Square Footage: 25,000
  • Price per Square Foot: $624

Ballast Investments, represented by Greg MacDonald and Ryan Brewer, along with The Carlyle Group, emerged as the buyers in this transaction. Compass Commercial, with brokers Stephen Pugh and Jay Greenberg, handled the deal on behalf of the buyer. Their expertise and negotiation skills played a crucial role in ensuring a successful transaction.

Players

Stephen Pugh
1 deal$15.6M volume
BROKER

Jay Greenberg
Compass
2 deals$21M volume
BROKER

Details

SOLD
IMAGE: Stephen Pugh & Jay Greenberg DATE: 10/25/2022 ADDRESS: 899 Green Street MARKET: San Francisco ASSET TYPE: Multifamily BUYER: Ballast Investments - Greg MacDonald & Ryan Brewer; The Carlyle Group BROKER: Stephen Pugh & Jay Greenberg - Compass Commercial SALE PRICE: $15,600,000 UNITS: 38 ~ PPU: $410,526 SF: 25,000 ~ PPSF: $624

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

$832,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$55,423.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,951.96
Annual Debt Service$887,423.50