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PRR Property LLC Acquires Multifamily Property In Birmingham, AL For $15.5M
SOLD
$15,500,000
Alabama
See Similar DealsMultiFamily
Sold 05/25/2023
SOLD
PRR Property LLC Acquires Multifamily Property In Birmingham, AL For $15.5M
3000 & 3400 Chestnut Ridge Birmingham, Alabama 35216, USA
See Similar DealsMultiFamily
Sold 05/25/2023
Summary
ALABAMA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 3000 & 3400 Chestnut Ridge in Birmingham, AL has been sold for a price of $15,500,000. The transaction took place on 05/25/2023. The property is owned by The Park at Rocky Ridge Ltd and has been acquired by PRR Property LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,500,000
- Address: 3000 & 3400 Chestnut Ridge, Birmingham, AL
The buyer, PRR Property LLC, represented by their broker, handled the acquisition of this multifamily property from the seller, The Park at Rocky Ridge Ltd.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$826,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,068.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,477.91
Annual Debt Service$881,734.89
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