Sundance Bay Acquires Multifamily Property In Sierra Vista For $46.5M

1201 North Colombo Avenue, Sierra Vista, Arizona 85635, United States

$46,500,000

Units

252

Asset Type

MultiFamily

Closing

Jun 29, 2022

AI

The multifamily property located at 1201 Colombo Ave in Sierra Vista, AZ has been sold for a total of $46,500,000. The property consists of 252 units, with a price per unit of $184,454.

Summary of transaction details

Property Type: Multifamily
Sale Price: $46,500,000
Units: 252
Price Per Unit: $184,454

The buyer of the property is Sundance Bay, while the seller is Element Property.

Players

SB

Sundance BayBuyer

Sierra Vista 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

0.34%

Cash-on-Cash

-0.10%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93