Updated Mar 5, 2025
David Oakley Of Oakley Group Acquires Multifamily Properties In Tuscumbia And Florence For $9.25M
107 Harrison Drive, 103 Meadow Place Florence & 103 Meadow Pl
$9,250,000
Units
120
Asset Type
MultiFamily
Closing
Mar 4, 2025
About this deal
AI
This transaction involves the acquisition of two multifamily properties located at 107 Harrison Drive and 103 Meadow Pl in Tuscumbia and Florence, AL. The properties consist of a total of 120 units and were sold for a combined price of $9,250,000, resulting in a price per unit of $77,083.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,250,000
- Buyer: David Oakley - Oakley Group
- Seller: SRT Inc & Harvest Hills-Breckenbridge LLC
- Units: 120
- Price Per Unit: $77,083
- Market: Tuscumbia & Florence, AL
David Oakley, representing Oakley Group, has acquired the two multifamily assets with plans for rebranding and renovations, specifically The Meadows in Florence and Breckenridge Apartments in Tuscumbia.
On the Map
$9,250,000
MultiFamily
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Players
Tuscumbia 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
1.71%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93