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Epic Investment Services Acquires 150-Unit Multifamily In Tempe, AZ For $43.1M

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SOLD
$43,100,000

Arizona

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MultiFamily
Sold 08/09/2022
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SOLD

Epic Investment Services Acquires 150-Unit Multifamily In Tempe, AZ For $43.1M

1750 South Price Road, Tempe, Arizona 85281, United States

See Similar Deals
MultiFamily
Sold 08/09/2022
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 1750 S Price Rd in Tempe, AZ has been sold in a recent transaction. The property consists of 150 units and was sold for a total price of $43,100,000, resulting in an average price per unit of $287,333. The sale was facilitated by brokers Cliff David and Steve Gebing from Institutional Property Advisors. The buyer, Epic Investment Services, acquired the property from the seller, Western Wealth Capital.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $43,100,000
  • Address: 1750 S Price Rd, Tempe, AZ
  • Market: Tempe, AZ
  • Units: 150
  • Price per Unit: $287,333

Epic Investment Services purchased the multifamily property located at 1750 S Price Rd from Western Wealth Capital in a closed transaction. The deal was successfully negotiated by brokers Cliff David and Steve Gebing from Institutional Property Advisors. This transaction highlights the continued activity and investment interest in the Tempe, AZ market.

Players

Cliff David
36 deals$2.3B volume
BROKER

Steve Gebing
Institutional Property Advisors
37 deals$2.4B volume
BROKER

Western Wealth Capital
SELLER

Details

SOLD
IMAGE: Steve Gebing & Cliff David DATE: 08/09/2022 ADDRESS: 1750 S Price Rd MARKET: Tempe, AZ ASSET TYPE: Multifamily BUYER: Epic Investment Services SELLER: Western Wealth Capital BROKERS: Cliff David & Steve Gebing - Institutional Property Advisors SALE PRICE: $43,100,000 UNITS: 150 ~ PPU: $287,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,298,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$153,125.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$204,315.99
Annual Debt Service$2,451,791.86