Bella Property LLC Acquires 208-Unit Multifamily In San Jose For $26.1M
SOLD
$26,100,000
Florida
See Similar DealsMultiFamily163,626 SF
Sold 07/01/2020
SOLD
Bella Property LLC Acquires 208-Unit Multifamily In San Jose For $26.1M
1908 Northwest 84th Avenue, Doral, FL, USA
See Similar DealsMultiFamily163,626 SF
Sold 07/01/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$159
Total Square Footage:163,626 SF
Transaction Type:Sale
Bella Property LLC has acquired a multifamily property located at 7500 Powers Ave. in San Jose, Jacksonville. The transaction took place on July 1, 2021, with a sale price of $26,100,000. The property consists of 208 units, with a price per unit (PPU) of $125,481.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,100,000
- Units: 208
- Price Per Unit: $125,481
- Market: San Jose, Jacksonville
The buyer, Bella Property LLC, acquired the property from the seller, Pinebrook CE Partners LLC. The deal was facilitated by brokers Cliff Taylor and Joe Ayers from CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,392,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$92,727.79
Cash-on-Cash Return-1.27%
Monthly Debt Service$123,727.32
Annual Debt Service$1,484,727.79
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