Storm Properties Acquires Multifamily Property In Glendale For $33.5M
Glendale, Ariz
Units
33,500,000
Asset Type
—
Closing
Dec 18, 2022
About this deal
AI
The multifamily property located at 6240 North 63rd Avenue in Glendale, AZ was sold for $33,500,000 on December 16, 2022. This property consists of 200 units, with each unit priced at $167,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,500,000
- Units: 200
- Price Per Unit: $167,500
- Address: 6240 North 63rd Avenue
- Market: Glendale, AZ
Storm Properties was the buyer of the multifamily property, with Northmarq acting as the broker representing the transaction.
Traded’s record for Glendale, Ariz in Glendale, Arizona covers a commercial sale from 2024. This page is the Glendale, Arizona file for the Glendale, Ariz commercial sold: pricing, party profiles, and other closed commercial comps from the same Glendale sit in the Market section below. Filter that Glendale commercial set by closing date to see what else sold near Glendale, Ariz around 2024. Cite this Storm Properties Acquires Multifamily Property In Glendale For $33.5M sale when underwriting similar commercial product around Glendale, Arizona.
Players
Glendale CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93