CBRE Brokers Secure $21.5M Sale Of 87-Unit Multifamily In Berkeley
SOLD
$21,500,000
California
See Similar DealsRetail11,840 SF
Sold 01/31/2022
SOLD
CBRE Brokers Secure $21.5M Sale Of 87-Unit Multifamily In Berkeley
2590 Bancroft Way, Berkeley, California 94704, United States
See Similar DealsRetail11,840 SF
Sold 01/31/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,815
Total Square Footage:11,840 SF
Transaction Type:Sale
The multifamily property located at 2590 Bancroft Way in Berkeley has been sold for a price of $21,500,000. This property, consisting of 87 units, was sold by Ruegg And Ellsworth LLC. The sale was facilitated by the brokers Keith Manson, Zachary Greenwood, and Mac Watson from CBRE.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $21,500,000
- Address: 2590 Bancroft Way, Berkeley
- Market: Berkeley
- Units: 87
Keith Manson, Zachary Greenwood, and Mac Watson from CBRE played crucial roles as the brokers representing the seller, Ruegg And Ellsworth LLC, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,146,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$76,384.95
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,920.97
Annual Debt Service$1,223,051.63
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