Tides Equities Acquires Multifamily Property In Goodyear, AZ For $71.8M
SOLD
$71,800,000
Arizona
See Similar DealsMultiFamily
Sold 06/30/2021
SOLD
Tides Equities Acquires Multifamily Property In Goodyear, AZ For $71.8M
1891 North Litchfield Road
See Similar DealsMultiFamily
Sold 06/30/2021
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
An apartment complex located at 1891 N Litchfield Rd in Goodyear, AZ has been sold for $71,800,000. The multifamily property consists of 264 units, with an average price per unit of $271,969.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $71,800,000
- Units: 264
- Price Per Unit: $271,969
The seller of the property was Avanti Residential, while the buyer was Tides Equities represented by Sean Kia and Ryan Andrade. The transaction was facilitated by CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,829,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$255,090.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$340,368.63
Annual Debt Service$4,084,423.57
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