Brian Fitterer Acquires Manufactured Housing In Huntington Beach For $58M
SOLD
$58,000,000
+ 1
California
See Similar DealsOther1,456 SF
Sold 08/20/2020
SOLD
Brian Fitterer Acquires Manufactured Housing In Huntington Beach For $58M
16444 Bolsa Chica Street, Huntington Beach, CA, USA
See Similar DealsOther1,456 SF
Sold 08/20/2020
+ 1
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$39,835
Total Square Footage:1,456 SF
Transaction Type:Sale
A Manufactured Housing property located at 16444 Bolsa Chica St. in Huntington Beach has been sold for $58,000,000. The transaction took place on 08/20/2021. The property consists of 167 units, with a price per unit (PPU) of $347,305.
Summary of transaction details
- Property Type: Manufactured Housing
- Transaction Amount: $58,000,000
- Address: 16444 Bolsa Chica St.
- Market: Huntington Beach
- Buyer: Brian Fitterer
- Seller: Coulter Family
- Brokers: Jeff Benson, Sam Neumark, and Kody Scott
- Units: 167
- PPU: $347,305
The deal was facilitated by brokers Jeff Benson, Sam Neumark, and Kody Scott. They represented the buyer and seller in this transaction, ensuring a successful sale of the manufactured housing property in Huntington Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,061.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,949.59
Annual Debt Service$3,299,395.08
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