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Multifamily Asset At 3401 Ramona Drive Sells For $10.15M By CBRE Brokers

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SOLD
$10,150,000

California

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MultiFamily35,504 SF
Sold 09/13/2024
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Property Image
SOLD

Multifamily Asset At 3401 Ramona Drive Sells For $10.15M By CBRE Brokers

3401 Ramona Drive

See Similar Deals
MultiFamily35,504 SF
Sold 09/13/2024
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$285
Total Square Footage:35,504 SF
Transaction Type:Sale

The property asset involved in this transaction is a multifamily unit located at 3401 Ramona Drive in Riverside. The sale price for the property was $10,150,000. The asset comprises 44 units with a total square footage of 35,504, resulting in a price per unit of $230,681 and a price per square foot of $285.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,150,000
  • Units: 44
  • Square Footage: 35,504
  • Price Per Unit: $230,681
  • Price Per Square Foot: $285
  • Date of Transaction: 09/13/2024
  • Address: 3401 Ramona Drive
  • Market: Riverside
  • Brokers: Eric Chen, Kevin Sin & Blake Torgerson - CBRE

The key individuals involved in this transaction include Eric Chen, Kevin Sin, and Blake Torgerson, who represented the buyer and seller through their agency CBRE. Their participation was crucial in facilitating this multifamily property transaction.

Players

Blake Torgerson
48 deals$286.1M volume(714) 222-0696
BROKER

Eric Chen
CBRE
108 deals$886.6M volume(626) 757-5717
BROKER

Kevin Sin
CBRE
21 deals$126.6M volume
BROKER

Details

SOLD
IMAGE: Eric Chen, Kevin Sin & Blake Torgerson DATE: 09/13/2024 ADDRESS: 3401 Ramona Drive MARKET: Riverside ASSET TYPE: Multifamily BROKERS: Eric Chen (@Eeric_c_Chen), Kevin Sin (@KevinkSin) & Blake Torgerson (@BlakeTorg32) - CBRE (@CBRE) SALE PRICE: $10,150,000 UNITS: 44 ~ PPU: $230,681 SF: 35,504 ~ PPSF: $285

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

$541,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$36,060.82
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,116.18
Annual Debt Service$577,394.14