Jesse Chen Acquires 8-Unit Multifamily Property In Fontana For $1.92M
SOLD
$1,920,000
California
See Similar DealsMultiFamily5,888 SF
Sold 10/13/2023
SOLD
Jesse Chen Acquires 8-Unit Multifamily Property In Fontana For $1.92M
9281 Pepper Avenue
See Similar DealsMultiFamily5,888 SF
Sold 10/13/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$326
Total Square Footage:5,888 SF
Transaction Type:Sale
A multifamily property located at 9281 Pepper Avenue in Fontana has been sold for a price of $1,920,000. The property consists of 8 units, with a price per unit (PPU) of $240,000. The total square footage of the property is 5,888, with a price per square foot (PPSF) of $326.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,920,000
- Units: 8
- PPU: $240,000
- Square Footage: 5,888
- PPSF: $326
Jesse Chen has acquired the property from Linda Jacobson-Goldsman. Eric Chen, representing CBRE, acted as the buyer's representative in the deal. Rick Applebaum, from Morgan Skenderian Investment Real Estate Group, served as the seller's representative.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$102,400.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,821.35
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,101.78
Annual Debt Service$109,221.35
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