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Far Western Properties And Dorn Properties Acquire Parkway Apartments In Phoenix For $4.5M
SOLD
$4,500,000
Arizona
See Similar DealsMultiFamily
Sold 10/13/2025
SOLD
Far Western Properties And Dorn Properties Acquire Parkway Apartments In Phoenix For $4.5M
5407 West Glenrosa Avenue
See Similar DealsMultiFamily
Sold 10/13/2025
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The property asset involved in this transaction is a 36-unit multifamily complex located at 5407 West Glenrosa Avenue in Phoenix, AZ. It was sold for a total price of $4,500,000, translating to a price per unit of $125,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $4,500,000
- Units: 36
- Price Per Unit: $125,000
- Buyer: Far Western Properties & Dorn Properties
- Seller: Parkway Apartments LLC
- Brokers: Brian Smuckler & Derek Smigiel - JLL
This transaction was facilitated by Brian Smuckler and Derek Smigiel from JLL, who represented Parkway Apartments LLC in this sale, highlighting their role in the successful arrangement of this multifamily property deal.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$240,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55
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