Tower 16 Capital Partners Acquires Multifamily Property In Glendale For $30.4M
6112 North 67th Avenue, Glendale, Arizona 85301, United States
$30,400,000
$251/SF
Building Size
120,800 SF
Asset Type
MultiFamily
Closing
Jan 3, 2022
AI
6112 N. 67th Ave in Glendale, AZ, a multifamily property, was recently sold for $30,400,000. The transaction took place on 01/03/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,400,000
- Units: 160
- Price per Unit (PPU): $190,000
The buyer of the property is Tower 16 Capital Partners, represented by Mike Farley and Tyler Pruett. The brokers involved in the deal were Jesse Hudson, Trevor Koskovich, and Bill Hahn from Northmarq. Bryan Mummaw and Bryan Liu from Northmarq acted as the mortgage brokers.
Players
Glendale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93