Updated Dec 4, 2024
Jason McCool Acquires 369-Unit Multifamily Property In Tempe For $111.7M
1701 East Don Carlos Avenue, Tempe, Arizona 85281, United States
$111,700,000
Units
369
Asset Type
MultiFamily
Closing
Aug 8, 2022
About this deal
AI
The multifamily property located at 1701 E Don Carlos and 1701 E 8th St in Tempe, AZ, has been sold in a recent transaction. The property consists of 369 units and was sold for a total price of $111,700,000, resulting in a per-unit price of $302,710.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $111,700,000
- Units: 369
- Price per Unit: $302,710
- Buyer: Jason McCool
- Seller: Avanti Residential & KKR Real Estate
- Brokers: Brad Goff, Brett Polachek & Chris Canter - Newmark
The deal was facilitated by the brokers Brad Goff, Brett Polachek, and Chris Canter from Newmark. They represented the buyer, Jason McCool, in this transaction.
On the Map
$111,700,000
MultiFamily
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Players
Tempe 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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93