Updated Dec 4, 2024
Tower 16 Capital Partners Sells Peoria Multifamily For $18.6M With Broker Jesse Hudson
10860 North 85th Avenue
$18,600,000
$258/SF
Building Size
72,000 SF
Asset Type
MultiFamily
Closing
Sep 29, 2023
About this deal
AI
A 100-unit multifamily property located at 10860 North 85th Avenue in Peoria, AZ has been sold for a total price of $18,600,000. The property spans across 72,000 square feet and was sold at an average price per unit (PPU) of $186,000 and price per square foot (PPSF) of $258.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $18,600,000
- Address: 10860 North 85th Avenue, Peoria, AZ
- Market: Peoria, AZ
- Units: 100
- PPU: $186,000
- SF: 72,000
- PPSF: $258
Tower 16 Capital Partners represented by Mike Farley and Tyler Pruett acted as the sellers in this transaction. The brokerage services were provided by Jesse Hudson from NorthMarq.
On the Map
$18,600,000
$258/SF
MultiFamily
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Players
Peoria MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93