Updated Dec 20, 2023
Marcus & Millichap Brokers Sell Palmdale Multifamily Property For $2M
E Ave Q12, Palmdale, Ca 93550, Estados Unidos
$2,000,000
$2,123/SF
Building Size
942 SF
Asset Type
MultiFamily
Closing
Oct 28, 2020
About this deal
AI
The multifamily property located at 1140 E Avenue in Palmdale has been sold in a recent transaction. The sale took place on October 29, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 1140 E Avenue, Palmdale
- Market: Palmdale
The sale of this multifamily property was facilitated by Filip Niculete, Glen Scher, and Ed Chao from the Marcus & Millichap team. They represented the sellers in this transaction. The sellers are extremely happy with the outcome as the sale price achieved a near record-breaking $142,857 per unit. According to CoStar, this is the second-highest price per unit ever recorded for apartments ranging from 5-16 units in Palmdale.
Players
Palmdale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93