Tides Equities Acquires Multifamily Property In Phoenix For $43.8M
SOLD
$43,800,000
Arizona
See Similar DealsMultiFamily310,498 SF
Sold 11/08/2021
SOLD
Tides Equities Acquires Multifamily Property In Phoenix For $43.8M
1502 East Osborn Road, Phoenix, AZ, USA
See Similar DealsMultiFamily310,498 SF
Sold 11/08/2021
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$141
Total Square Footage:310,498 SF
Transaction Type:Sale
The multifamily property located at 1502 East Osborn Road in Phoenix, AZ has been sold for $43,800,000. The property consists of 185 units, with a price per unit of $236,756.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,800,000
- Address: 1502 East Osborn Road, Phoenix, AZ
- Market: Phoenix, AZ
Tides Equities, represented by Sean Kia, acquired the property from the seller, Emma Capital. The deal was facilitated by Colliers International.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,335,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$155,612.16
Cash-on-Cash Return-1.27%
Monthly Debt Service$207,634.35
Annual Debt Service$2,491,612.15
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