Updated Dec 19, 2023
Matthews Real Estate Investment Services Secures $7.35M Refinance Loan For Phoenix Multifamily
3101 North 36th Street, Phoenix, Arizona 85018, United States
$7,350,000
$248/SF
Building Size
29,536 SF
Asset Type
MultiFamily
Closing
Jun 6, 2022
About this deal
AI
The multifamily property located at 3101 N. 36th St. in Phoenix, AZ has recently undergone a refinance transaction. The property spans approximately 29,536 square feet and consists of 45 units. The deal was facilitated by Gregory Kavoklis from Matthews Real Estate Investment Services and Jim Brandon.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $7,350,000
The loan obtained for the refinance is valued at $7,350,000. It features a 7-year fixed term with an interest rate of 3.70%. The loan offers a 12-month interest-only payment plan and has limited recourse. Additionally, there is a stepdown prepayment provision in place.
On the Map
$7,350,000
$248/SF
MultiFamily
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Players
Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.16%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93