Marcus & Millichap Brokers Huntington Multifamily Sale For $20M
SOLD
$20,000,000
West Virginia
See Similar DealsMultiFamily
Sold 09/05/2019
SOLD
Marcus & Millichap Brokers Huntington Multifamily Sale For $20M
16102 Springdale St, Huntington Beac...
See Similar DealsMultiFamily
Sold 09/05/2019
Summary
WEST VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
The transaction involved a multifamily property located at 16102 Springdale St, Huntington Beach, which was sold for $20,000,000.00. The property is part of the Huntington market. The specifics regarding the number of units or additional features of the property are not mentioned.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $20,000,000.00
- Address: 16102 Springdale St, Huntington Beach
- Market: Huntington
- Buyer: Unknown
- Brokers: Matt Ziegler - Marcus & Millichap, Matthew Kipp - Marcus & Millichap
Matt Ziegler and Matthew Kipp from Marcus & Millichap were instrumental in representing the seller and facilitating the acquisition for the unidentified buyer. This sale is part of a larger portfolio transaction in Southern California, which also included another multifamily property in Culver City.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,066,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$71,055.77
Cash-on-Cash Return-1.27%
Monthly Debt Service$94,810.20
Annual Debt Service$1,137,722.44
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