Mike Nijjar Acquires Multifamily Property In Colton For $3.19M
580 West East Street
MultiFamily
12,030 SF
12,030 SF
Summary
The multifamily property located at 580 West E Street in Colton was recently sold. The property consists of 22 units with a total square footage of 12,030. The sale price for this transaction was $3,190,000, resulting in a price per unit of $145,000. The price per square foot was calculated to be $265. The Gross Rent Multiplier (GRM) was determined to be 10.91x, while the Capitalization Rate (CAP) stood at 5.20%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,190,000
- Address: 580 West E Street
- Market: Colton
- Units: 22
- Price per Unit (PPU): $145,000
- Square Footage (SF): 12,030
- Price per Square Foot (PPSF): $265
- Gross Rent Multiplier (GRM): 10.91x
- Capitalization Rate (CAP): 5.20%
The buyer of the property was Mike Nijjar, while the seller was David Kaplan. The deal was facilitated by brokers Eric Chen, Blake Torgerson, and Melinda Russell.
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580 West East Street
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