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CSLC Housing Acquisitions Buys Arcadia Gardens Multifamily In Phoenix For $14.75M
SOLD
$14,750,000
Arizona
See Similar DealsMultiFamily
Sold 04/19/2024
SOLD
CSLC Housing Acquisitions Buys Arcadia Gardens Multifamily In Phoenix For $14.75M
3101 North 32nd Street
See Similar DealsMultiFamily
Sold 04/19/2024
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$52,403.63
Cash-on-Cash Return-1.27%
Monthly Debt Service$69,922.53
Annual Debt Service$839,070.30
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