Updated Dec 4, 2024
Wildflower Apts LLC Acquires Multifamily Property From Aim Higher Properties LLC For $2.5M
2850 North Alvernon Way
$2,500,000
Units
20
Asset Type
Mobile Home
Closing
Oct 22, 2024
About this deal
AI
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.
On the Map
$2,500,000
Mobile Home
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.35%
Cash-on-Cash
-1.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93