Carter Multifamily Acquires 252-Unit Multifamily Property In Mobile, AL For $35.6M
SOLD
$35,600,000
Alabama
See Similar DealsMultiFamily
Sold 11/30/2022
SOLD
Carter Multifamily Acquires 252-Unit Multifamily Property In Mobile, AL For $35.6M
7070 Grelot Road, Mobile, Alabama 36695, United States
See Similar DealsMultiFamily
Sold 11/30/2022
Summary
ALABAMA
Asset Type:MultiFamily
Transaction Type:Sale
7070 Grelot Rd in Mobile, AL has been sold in a multifamily property transaction. The property consists of 252 units, with a price per unit (PPU) of $141,270. The deal was closed on 11/30/2022 for a total sale price of $35,600,000. The buyer, Carter Multifamily, acquired the property from Saxony Capital Management.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $35,600,000
- Units: 252
- PPU: $141,270
The deal was facilitated by the brokers Andrew Brown and Ben Thomas from Cushman & Wakefield. They represented both the buyer, Carter Multifamily, and the seller, Saxony Capital Management, in this transaction.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,898,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$126,479.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$168,762.16
Annual Debt Service$2,025,145.95
Is there something missing? Send suggestions