Updated Oct 28, 2024
Cowabunga LLC Acquires Rise48 Multifamily In Phoenix For $21M
2735 East Thomas Road, Phoenix, Arizona 85008, United States
$21,000,000
Units
110
Asset Type
MultiFamily
Closing
Jun 26, 2022
About this deal
AI
The multifamily property located at 2735 E Thomas Rd in Phoenix, AZ, has been sold in a closed transaction. The property spans 2.26 acres and consists of 110 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Units: 110
- Price Per Unit: $190,909
- Buyer: Cowabunga LLC
- Seller: Rise48
- Brokers: Karl Abert & Bret Zinn - Kidder Mathew
Karl Abert and Bret Zinn from Kidder Mathew represented the buyer and seller in this transaction. The deal was successfully closed on 06/27/2022.
Players
Phoenix 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
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93