Rise48 Equity LLC Acquires Multifamily Property In Tempe, AZ For $45M
SOLD
$45,000,000
Arizona
See Similar DealsMultiFamily66,800 SF
Sold 10/22/2021
SOLD
Rise48 Equity LLC Acquires Multifamily Property In Tempe, AZ For $45M
1025 East Orange Street, Tempe, AZ, USA
See Similar DealsMultiFamily66,800 SF
Sold 10/22/2021
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$673
Total Square Footage:66,800 SF
Transaction Type:Sale
The multifamily property located at 1025 E Orange St in Tempe, AZ has been sold. The transaction took place on 10/22/2021.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $45,000,000
- Address: 1025 E Orange St, Tempe, AZ
- Units: 197
- Price per Unit: $228,426
The buyer of the property is Rise48 Equity LLC, while the seller is Brookhill Corporation. The deal was facilitated by brokers Brett Polachek, Chris Canter, and Brad Goff from Newmark.
Players
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,400,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$159,875.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$213,322.96
Annual Debt Service$2,559,875.50
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