Updated Oct 28, 2024
NextGen Apartments Sells 104-Unit Multifamily Property In Mesa, AZ For $45M
1930 South 24th Street, Mesa, Arizona 85204, United States
$45,000,000
Units
104
Asset Type
MultiFamily
Closing
Jul 5, 2022
About this deal
AI
The multifamily property located at 1930 S 24th St in Mesa, AZ has been sold in a recent transaction. The property consists of 104 units and was sold for a total price of $45,000,000, resulting in a per unit price of $432,692. The sale was facilitated by Steve Gebing and Cliff David of Institutional Property Advisors on behalf of the seller, NextGen Apartments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $45,000,000
- Units: 104
- Price per Unit: $432,692
The deal was successfully negotiated by Steve Gebing and Cliff David from Institutional Property Advisors, who represented NextGen Apartments in the transaction.
Players
Mesa 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
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93