ABI Multifamily Brokers Sell Phoenix Multifamily Property For $48M
SOLD
$48,000,000
+ 1
Arizona
See Similar DealsMultiFamily156,352 SF
Sold 12/30/2021
SOLD
ABI Multifamily Brokers Sell Phoenix Multifamily Property For $48M
14020 North Black Canyon Highway, Phoenix, AZ 85053
See Similar DealsMultiFamily156,352 SF
Sold 12/30/2021
+ 1
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$307
Total Square Footage:156,352 SF
Transaction Type:Sale
The multifamily property located at 14020 N Black Canyon Hwy in Phoenix, AZ has been sold for a total of $48,000,000. The transaction took place on December 30, 2021. The property spans across an area of 7.98 acres and offers a total of 203 units. The price per unit amounts to $236,453. With a total square footage of 156,352, the price per square foot comes out to be $307.
Summary of Transation Details
- Property Type: Multifamily
- Transaction Amount: $48,000,000
- Address: 14020 N Black Canyon Hwy, Phoenix, AZ
- Market: Phoenix, AZ
- Acres: 7.98
- Units: 203
- Price Per Unit: $236,453
- Square Footage: 156,352
- Price Per Square Foot: $307
The sale of this multifamily property was facilitated by Alon Shnitzer, Rue Bax, Eddie Chang, and Doug Lazovick from the Institutional Apartment Group at ABI Multifamily. They represented the parties involved in the deal and ensured its successful completion.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,560,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$170,533.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$227,544.49
Annual Debt Service$2,730,533.86
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