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Wildflower Apts LLC Acquires Multifamily Property From Aim Higher Properties LLC For $2.5M
SOLD
$2,500,000
Arizona
See Similar DealsMobile Home
Sold 10/22/2024
SOLD
Wildflower Apts LLC Acquires Multifamily Property From Aim Higher Properties LLC For $2.5M
2850 North Alvernon Way
See Similar DealsMobile Home
Sold 10/22/2024
Summary
ARIZONA
Asset Type:Mobile Home
Transaction Type:Sale
The property involved in this transaction is Wildflower Apartments, a multifamily asset located at 2850 North Alvernon Way in Tucson, AZ. The sale price was $2,500,000. The property comprises 28 units, with a price per unit (PPU) of $125,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,500,000
- Units: 28
- Price Per Unit: $125,000
- Buyer: Wildflower Apts LLC
- Seller: Aim Higher Properties LLC
- Broker: Allan Mendelsberg & Joey Martinez - Cushman & Wakefield
This transaction involved professional brokerage services provided by Allan Mendelsberg and Joey Martinez from Cushman & Wakefield. They facilitated the acquisition of the property by Wildflower Apts LLC from Aim Higher Properties LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,881.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,851.28
Annual Debt Service$142,215.31
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