Rise48 Equity Sells Phoenix Multifamily For $15.6M
SOLD
$15,600,000
Arizona
See Similar DealsMultiFamily49,930 SF
Sold 11/11/2021
SOLD
Rise48 Equity Sells Phoenix Multifamily For $15.6M
3620 E McDowell Rd, Phoenix, AZ, USA
See Similar DealsMultiFamily49,930 SF
Sold 11/11/2021
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$312
Total Square Footage:49,930 SF
Transaction Type:Sale
The multifamily property located at 3620 E McDowell Rd in Phoenix, AZ has been sold for $15,600,000. This property spans across 2.3 acres and consists of 76 units, resulting in a price per unit of $205,263. The sale took place on 11/11/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,600,000
- Address: 3620 E McDowell Rd, Phoenix, AZ
- Market: Phoenix, AZ
- Acres: 2.3
- Seller: Rise48 Equity - Robert Szewczyk
The sale of this multifamily property was facilitated by Robert Szewczyk, representing Rise48 Equity. The transaction involved the transfer of ownership for the 76 units at a price per unit of $205,263.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$832,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$55,423.50
Cash-on-Cash Return-1.27%
Monthly Debt Service$73,951.96
Annual Debt Service$887,423.50
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