Updated Oct 28, 2024
MNM Partners Acquires 22-Unit Multifamily In Silicon Valley For $7.35M
906 Burbank Drive
$7,350,000
$500/SF
Building Size
14,677 SF
Asset Type
MultiFamily
Closing
Aug 9, 2022
About this deal
AI
The multifamily property located at 906 Burbank Dr. in Silicon Valley has been sold for a total price of $7,350,000. The property consists of 22 units, with a price per unit of $334,090. The total square footage of the property is 14,677, resulting in a price per square foot of $500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,350,000
- Units: 22
- Price per Unit: $334,090
- Square Footage: 14,677
- Price per Square Foot: $500
- Market: Silicon Valley
The buyer of the property is MNM Partners, while the seller is Jeff Zell. The deal was facilitated by the brokers Ray Rodriguez and Tony Zizzo of THE R&Z Group.
Players
Santa Clara 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
2.16%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93