Sunrise Multifamily Group Acquires 120-Unit Multifamily Property In Glendale, AZ For $25M
SOLD
$25,000,000
+ 1
Arizona
See Similar DealsMultiFamily
Sold 01/12/2022
SOLD
Sunrise Multifamily Group Acquires 120-Unit Multifamily Property In Glendale, AZ For $25M
6816 West Bethany Home Road, Glendale, Arizona 85303, United States
See Similar DealsMultiFamily
Sold 01/12/2022
+ 1
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 6816 W Bethany Home Rd in Glendale, AZ has been sold in a transaction valued at $25,000,000. The property consists of 120 units, resulting in a price per unit of $208,333. The buyer of the property is Sunrise Multifamily Group, LLC, while the seller is 6816 W Bethany Home RD PCPRE, LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Address: 6816 W Bethany Home Rd, Glendale, AZ
- Market: Glendale, AZ
- Buyer: Sunrise Multifamily Group, LLC
- Seller: 6816 W Bethany Home RD PCPRE, LLC
- Brokers: Trevor Koskovich, Bill Hahn, Jesse Hudson & Ryan Boyle - Northmarq
- Units: 120
- Price Per Unit: $208,333
Trevor Koskovich, Bill Hahn, Jesse Hudson, and Ryan Boyle from Northmarq represented the buyer and seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,333,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05
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