Updated Oct 28, 2024
Tower 16 Capital Partners Acquires Phoenix Multifamily For $42M
6565 West Bethany Home Road, Phoenix, AZ, USA
$42,000,000
$237/SF
Building Size
176,598 SF
Asset Type
MultiFamily
Closing
Sep 1, 2021
About this deal
AI
Located at 6565 W. Bethany Home Road in Phoenix, this multifamily property was recently sold in a closed transaction. The property consists of 276 units, with an average price per unit of $152,173. The total square footage of the property is 176,598, with an average price per square foot of $237.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,000,000
- Market: Phoenix
Tower 16 Capital Partners purchased the property, with the transaction facilitated by broker Alon Shnitzer. The deal was finalized on September 1, 2021.
Players
Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93