Ben Leeds Acquires Manufactured Housing In Eureka For $4.7M
SOLD
$4,725,000
California
See Similar DealsOther990,554 SF
Sold 06/15/2022
SOLD
Ben Leeds Acquires Manufactured Housing In Eureka For $4.7M
3656 Old Arcata Road, Eureka, California 95503, United States
See Similar DealsOther990,554 SF
Sold 06/15/2022
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$4
Total Square Footage:990,554 SF
Transaction Type:Sale
The manufactured housing property located at 3656 Old Arcata Rd. in Eureka has been sold for a total price of $4,725,000. The transaction took place on June 15, 2022. The property consists of 71 units, with an average price per unit of $66,549. The total square footage of the property is 990,554, resulting in a price per square foot of $4.
Summary of transaction details
- Property Type: Manufactured Housing
- Transaction Amount: $4,725,000
- Units: 71
- Price per Unit: $66,549
- Square Footage: 990,554
- Price per Square Foot: $4
The buyer of the property is Ben Leeds, while the seller is Jerry Husband. The transaction was facilitated by brokers Jeff Benson and Sam Neumark from Northmarq.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$252,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,786.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$22,398.91
Annual Debt Service$268,786.93
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