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KDF Communities Acquires 64-Unit Multifamily Complex In Phoenix For $12.6 Million

Property Image
SOLD
$12,600,000
Jeff Seaman
Derek Smigiel
Bryson Fricke
+ 1

Arizona

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MultiFamily
Sold 07/25/2024
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Property Image
SOLD

KDF Communities Acquires 64-Unit Multifamily Complex In Phoenix For $12.6 Million

27 East Corona Avenue

See Similar Deals
MultiFamily
Sold 07/25/2024
Jeff Seaman
Derek Smigiel
Bryson Fricke
+ 1
the dealplayerscompscontact
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Summary

ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 27 East Corona Avenue, Phoenix, AZ. The sale price for the property was $12,600,000, consisting of 64 units. The price per unit (PPU) is calculated at $196,875.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $12,600,000
  • Address: 27 East Corona Avenue
  • Market: Phoenix, AZ
  • Units: 64
  • Price Per Unit: $196,875

JLL facilitated the transaction, connecting the seller with buyer KDF Communities. The brokers involved in the sale were Brian Smuckler, Bryson Fricke, Derek Smigiel, and Jeff Seaman, all representatives of JLL.

Players

Brian Smuckler
JLL
Brian Smuckler
4 deals$53.3M volume(602) 570-9442
BROKER
Jeff Seaman
JLL
Jeff Seaman
4 deals$85.8M volume(602) 295-1660
BROKER
Derek Smigiel
JLL
Derek Smigiel
5 deals$62.3M volume(602) 469-9295
BROKER
Bryson Fricke
JLL
Bryson Fricke
4 deals$85.8M volume(480) 450-0717
BROKER

Details

SOLD
IMAGE: 07/25/2024 ADDRESS: 27 East Corona Avenue MARKET: Phoenix, AZ ASSET TYPE: Multifamily BUYER: KDF Communities BROKERS: Brian Smuckler, Bryson Fricke, Derek Smigiel & Jeff Seaman - JLL SALE PRICE: $12,600,000 UNITS: 64 ~ PPU: $196,875 NOTE: JLL facilitated the $12.6 million sale of Corona Del Sol, a 64-unit apartment complex in Phoenix, connecting the high-net-worth seller with buyer KDF Communities.

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

$672,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$44,765.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$59,730.43
Annual Debt Service$716,765.14