Next Wave Investors Acquires Multifamily Asset In Prescott, Arizona For $58M
SOLD
$58,000,000
Arizona
See Similar DealsMultiFamily
Sold 12/03/2021
SOLD
Next Wave Investors Acquires Multifamily Asset In Prescott, Arizona For $58M
3147 Willow Creek Rd, Prescott, Arizona, USA
See Similar DealsMultiFamily
Sold 12/03/2021
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 3147 Willow Creek Rd in Prescott, Arizona has been sold in a transaction. The property consists of 160 units and was sold for a price of $58,000,000, resulting in an average price per unit of $362,500. The sale took place on 12/03/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Units: 160
- Price Per Unit: $362,500
- Address: 3147 Willow Creek Rd, Prescott, Arizona
- Market: Prescott, Arizona
The buyer of the property is Next Wave Investors, while the seller is 3137 Willow Creek Road LLC. The transaction was facilitated by the brokers Steve Gebing, Cliff David, and Hamid Panahi from Institutional Property Advisors (IPA) - Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,093,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$206,061.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$274,949.59
Annual Debt Service$3,299,395.08
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