Three Pillars Communities Sells Manufactured Housing In Tulare For $10.2M
SOLD
$10,200,000
California
See Similar DealsOther387,684 SF
Sold 12/22/2021
SOLD
Three Pillars Communities Sells Manufactured Housing In Tulare For $10.2M
560 West Pleasant Avenue, Tulare, California 93274, United States
See Similar DealsOther387,684 SF
Sold 12/22/2021
Summary
CALIFORNIA
Asset Type:Other
Price Per Square Foot:$26
Total Square Footage:387,684 SF
Transaction Type:Sale
The property involved in this closed transaction is a Manufactured Housing asset located at 560 W. Pleasant Ave. in Tulare. The sale was facilitated by Three Pillars Communities, with representation from brokers Samuel Neumark and Jeff Benson. The transaction took place on December 22, 2021.
Summary of transaction details
- Property Type: Manufactured Housing
- Transaction Amount: $10,200,000
- Units: 96
- Price Per Unit: $106,250
- Square Footage: 387,684
- Price Per Square Foot: $26
The property consists of 96 units, with a price per unit of $106,250. The total square footage of the property is 387,684, with a price per square foot of $26. Samuel Neumark and Jeff Benson served as the brokers representing Three Pillars Communities in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$544,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45
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