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ABI Multifamily Facilitates $6.9M Sale Of Quays At Encanto Multifamily Apartments In Phoenix, Arizona
SOLD
$6,925,000
Arizona
See Similar DealsMultiFamily28,040 SF
Sold 01/11/2024
SOLD
ABI Multifamily Facilitates $6.9M Sale Of Quays At Encanto Multifamily Apartments In Phoenix, Arizona
1840 West Thomas Road
See Similar DealsMultiFamily28,040 SF
Sold 01/11/2024
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$247
Total Square Footage:28,040 SF
Transaction Type:Sale
ABI Multifamily has facilitated the $6.9 million sale of Quays at Encanto, a 26-unit multifamily apartment community in Phoenix, Arizona. The property, located at 1840 West Thomas Road, offers a total square footage of 28,040 and consists of 26 units. The sale price of $6,925,000 translates to an average price per unit of $266,346, and the price per square foot is $247.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,925,000
- Units: 26
- Price Per Unit: $266,346
- Square Footage: 28,040
- Price Per Square Foot: $247
- Market: Phoenix, AZ
- Brokers: Mitchell Drake, Carson Griesemer & Dallin Hammond - ABI Multifamily
Leading the transaction are brokers Mitchell Drake, Carson Griesemer, and Dallin Hammond from ABI Multifamily.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$369,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,603.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,828.03
Annual Debt Service$393,936.40
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