Western Wealth Capital Acquires Multifamily Property In Glendale, AZ For $51.6M
SOLD
$51,600,000
Arizona
See Similar DealsMultiFamily297,210 SF
Sold 11/24/2021
SOLD
Western Wealth Capital Acquires Multifamily Property In Glendale, AZ For $51.6M
5959 West Greenway Road, Glendale, AZ, USA
See Similar DealsMultiFamily297,210 SF
Sold 11/24/2021
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$173
Total Square Footage:297,210 SF
Transaction Type:Sale
A multifamily property located at 5959 West Greenway Road in Glendale, AZ, has been sold in a transaction valued at $51,600,000. The property consists of 184 units with an average price per unit of $280,435. The sale was facilitated by Steve Gebing and Cliff David from Institutional Property Advisors, a division of Marcus & Millichap, who represented the buyer, Western Wealth Capital, and the seller, Investors Capital Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $51,600,000
- Address: 5959 West Greenway Road
- Market: Glendale, AZ
- Buyer: Western Wealth Capital
- Seller: Investors Capital Group
- Brokers: Steve Gebing & Cliff David - Institutional Property Advisors - Marcus & Millichap
- Units: 184
- Price per Unit: $280,435
Steve Gebing and Cliff David, representing Institutional Property Advisors, played a key role in facilitating the transaction. Their expertise and connections helped bring together Western Wealth Capital as the buyer and Investors Capital Group as the seller. This successful sale demonstrates the strong demand for multifamily properties in Glendale, AZ.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,752,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$183,323.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$244,610.33
Annual Debt Service$2,935,323.90
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