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Neel Pujara Sells Multifamily Properties In Oceanside For $14.5 Million Represented By Angelo La Bruna

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SOLD
$14,500,000

California

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MultiFamily114,544 SF
Sold 11/19/2024
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SOLD

Neel Pujara Sells Multifamily Properties In Oceanside For $14.5 Million Represented By Angelo La Bruna

151 South Myers Street, 203 South Myers Street, 211 South Myers Street & 217 South Myers Street

See Similar Deals
MultiFamily114,544 SF
Sold 11/19/2024
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Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$126
Total Square Footage:114,544 SF
Transaction Type:Sale

The assets involved in this transaction are five parcels located at 151, 203, 211 & 217 South Myers Street in Oceanside, California. The total sale price for the multifamily properties was $14,500,000. The combined square footage of the properties is 28,636, which results in a price per square foot of $506. The transaction includes 27 units, translating to a price per unit of $537,037.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $14,500,000
  • Units: 27
  • Square Footage: 28,636
  • Price Per Unit: $537,037
  • Price Per Square Foot: $506
  • Seller: Neel Pujara
  • Seller's Representative: Angelo La Bruna - Apartment Realty Group (ARG)
  • Market: Oceanside

The properties were sold in four separate transactions to individual and unrelated buyers. This indicates a strategic investment approach within the multifamily market in the Coastal Oceanside area, reflecting the dynamics of property ownership in diverse buyer interests.

Players

Angelo La Bruna
14 deals$88.6M volume
BROKER

Details

SOLD
IMAGE: Neel Pujara & Angelo La Bruna DATE: 11/19/2024 ADDRESS: 151, 203, 211 & 217 South Myers Street MARKET: Oceanside ASSET TYPE: Multifamily SELLER: Neel Pujara (@Nrp500) SELLER'S REP: Angelo La Bruna - Apartment Realty Group (ARG) (@ApartmentRealty) SALE PRICE: $14,500,000 UNITS: 27 ~ PPU: $537,037 SF: 28,636 ~ PPSF: $506 NOTE FROM BROKER: These five (5) parcels in Coastal Oceanside were sold in four separate transactions to individual/unrelated buyers. The properties totaled 27 units and sold for a combined $14,500,000.

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

$773,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$51,515.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$68,737.40
Annual Debt Service$824,848.77