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BRT Apartments Corp Purchases 214-Unit Multifamily Community In Auburn From LIV Development For $36.5M
SOLD
$36,500,000
Alabama
See Similar DealsMultiFamily
Sold 07/22/2025
SOLD
BRT Apartments Corp Purchases 214-Unit Multifamily Community In Auburn From LIV Development For $36.5M
1322 North Dean Road
See Similar DealsMultiFamily
Sold 07/22/2025
Summary
ALABAMA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in the transaction is a 214-unit garden-style community located at 1322 North Dean Road in Auburn, AL. The sale price for this multifamily asset was $36,500,000, resulting in a price per unit of $170,561.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $36,500,000
- Address: 1322 North Dean Road
- Market: Auburn, AL
- Units: 214
- Price Per Unit: $170,561
- Buyer: BRT Apartments Corp
- Seller: LIV Development
BRT Apartments Corp. and Mulberry Properties were the key individuals in this acquisition, as they acquired the property from LIV Development. This notable transaction highlights the involvement of these companies in the multifamily market within Auburn.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,946,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$129,676.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$173,028.62
Annual Debt Service$2,076,343.46
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