Sunrise Multifamily Group Acquires Multifamily Property In Chandler, Phoenix For $54M
SOLD
$54,000,000
+ 1
Arizona
See Similar DealsMultiFamily143,379 SF
Sold 12/23/2021
SOLD
Sunrise Multifamily Group Acquires Multifamily Property In Chandler, Phoenix For $54M
1750 West Boston Street, Chandler, Arizona 85224, United States
See Similar DealsMultiFamily143,379 SF
Sold 12/23/2021
+ 1
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$376
Total Square Footage:143,379 SF
Transaction Type:Sale
The recently closed property transaction involves a multifamily asset located at 1750 W. Boston St. in Chandler, Phoenix, AZ. The property consists of 177 units with a total sale price of $54,000,000, resulting in a per unit price of $305,084. The total square footage of the asset is 143,379, leading to a price per square foot of $376.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Units: 177
- Price per Unit (PPU): $305,084
- Square Footage (SF): 143,379
- Price per Square Foot (PPSF): $376
The property was purchased by the Sunrise Multifamily Group from the seller, Geltman & Company. The transaction was facilitated by brokers Eddie Chang, Alon Shnitzer, Rue Bax, and Doug Lazovick, representing ABI Multifamily.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59
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