Updated Oct 28, 2024
Hills At Hoover Apts LLC Acquires Multifamily Property In Hoover, AL For $44M
3627 Cedarbrook Drive, Hoover, Alabama 35216, United States
$44,000,000
Units
320
Asset Type
MultiFamily
Closing
Sep 13, 2022
About this deal
AI
The multifamily property located at 3627 Cedarbrook Dr in Hoover, AL has been sold. The property consists of 320 units and was sold for a total price of $44,000,000, resulting in a per unit price of $137,500. The property is situated in the Hoover market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Address: 3627 Cedarbrook Dr, Hoover, AL
- Market: Hoover, AL
- Buyer: Hills at Hoover Apts LLC
- Seller: Oxford Hills at Hoover LLC, Hills at Hoover LLC, Hoover Exchange LLC & Hoover Sale 2022 LLC
- Units: 320
- Per Unit Price: $137,500
Hills at Hoover Apts LLC has acquired the property from Oxford Hills at Hoover LLC, Hills at Hoover LLC, Hoover Exchange LLC & Hoover Sale 2022 LLC.
Players
Hoover 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93