Alden Pacific Investments Sets Record Sales Price for 4-Unit in San Fernando
Alden Pacific Investments has completed the $863,000 sale of a 4-Unit Apartment complex off-market, setting the record sales price for the property type in San Fernando located at 317 Jessie Street.
Agent Vincent Cook of Alden Pacific Investments represented the seller, closing at a sales price $83,000 above the appraised value. The property sold for $215,750 per unit with a cap rate of 5.3%.
Built in 1924, the property is situated on a 6,740 square foot lot containing three separate structures, 2 duplexes and two, two-car garages. The unit mix consists of four 1 bedroom 1 bathroom units.
"This property closed at a record-setting sales price in San Fernando at $863,000! This property priced at 12.4X Gross and at a 5.3% CAP on currents." -Vincent Cook