Marcus & Millichap Brokers Sell Montgomery Multifamily For $49.5M
SOLD
$49,500,000
Alabama
See Similar DealsMultiFamily
Sold 07/18/2022
SOLD
Marcus & Millichap Brokers Sell Montgomery Multifamily For $49.5M
8462 Eastchase Parkway, Montgomery, Alabama 36117, United States
See Similar DealsMultiFamily
Sold 07/18/2022
Summary
ALABAMA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 8462 Eastchase Pkwy in Montgomery, AL has been sold. The transaction took place on 07/19/2022, with a sale price of $49,500,000. The property consists of 276 units, resulting in a price per unit of $179,347.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $49,500,000
- Units: 276
- Price Per Unit: $179,347
- Market: Montgomery, AL
The transaction was facilitated by Josh Jacobs and Royce Emerson from Marcus & Millichap.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,640,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$175,863.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$234,655.25
Annual Debt Service$2,815,863.04
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