Updated Dec 19, 2023
Marcus & Millichap Sells Multifamily Property In Birmingham, AL For $46.4M
600 Earline Circle, Birmingham, Alabama 35215, United States
$46,400,000
Units
520
Asset Type
MultiFamily
Closing
Aug 23, 2022
About this deal
AI
The multifamily property located at 600 Earline Cir & 544 Gadsden Hwy in Birmingham, AL has been sold. The transaction took place on August 24, 2022, for a total sale price of $46,400,000. The property consists of 520 units, resulting in a price per unit of $89,231.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $46,400,000
- Units: 520
- Price per Unit: $89,231
The sale was facilitated by Marcus & Millichap, a reputable brokerage agency. Their representative played a crucial role in negotiating and finalizing the transaction.
Players
Birmingham 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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93