CSLC Housing Acquisitions Buys Arcadia Gardens Multifamily In Phoenix For $14.75M
3101 North 32nd Street
$14,750,000
Units
76
Asset Type
MultiFamily
Closing
Apr 19, 2024
AI
The sale of Arcadia Gardens, a 76-unit apartment community, located at 3101 North 32nd Street in Phoenix, Arizona, was facilitated by Cushman & Wakefield. The property was sold to CSLC Housing Acquisitions for a total price of $14.75 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,750,000
- Units: 76
- Price Per Unit: $194,079
- Market: Phoenix, AZ
- Buyer: CSLC Housing Acquisitions
- Seller: Rincon Partners
- Brokers: David Fogler & Steven Nicoluzakis - Cushman & Wakefield
Cushman & Wakefield played a vital role in connecting the buyer, CSLC Housing Acquisitions, with the seller, Rincon Partners, in this significant transaction. David Fogler and Steven Nicoluzakis, representing Cushman & Wakefield, acted as the brokers facilitating the deal between the two parties.
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
1.08%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93