Updated Oct 28, 2024
MNM Partners Acquires Multifamily Property In Silicon Valley For $7.35M
906 Burbank Drive, Santa Clara, California 95051, United States
$8,000,000
$545/SF
Building Size
14,677 SF
Asset Type
MultiFamily
Closing
Feb 13, 2022
About this deal
AI
A multifamily property located at 906 Burbank Dr. in Silicon Valley was recently sold. The property consists of 22 units with a total square footage of 14,677. The sale price for this transaction was $7,350,000, resulting in a per unit price of $334,090. The price per square foot was calculated at $500.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,350,000
- Market: Silicon Valley
- Units: 22
- Price per Unit: $334,090
- Square Footage: 14,677
- Price per Square Foot: $500
The buyer for this transaction was MNM Partners, while the seller was Jeff Zell. The deal was facilitated by Ray Rodriguez and Tony Zizzo from THE R&Z Group, who represented the buyer and seller respectively.
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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93