Rise48 Equity Acquires 352-Unit Multifamily Property In Glendale, AZ For $56.1M
SOLD
$56,100,000
Arizona
See Similar DealsMultiFamily4,949 SF
Sold 10/13/2021
SOLD
Rise48 Equity Acquires 352-Unit Multifamily Property In Glendale, AZ For $56.1M
7102 N 43rd Ave, Glendale, AZ, USA
See Similar DealsMultiFamily4,949 SF
Sold 10/13/2021
Summary
ARIZONA
Asset Type:MultiFamily
Price Per Square Foot:$11,335
Total Square Footage:4,949 SF
Transaction Type:Sale
An multifamily property located at 7102 N 43rd Ave in Glendale, AZ has been sold in a closed transaction. The property consists of 352 units and was sold for a total price of $56,100,000, resulting in a price per unit of $159,375.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $56,100,000
- Address: 7102 N 43rd Ave, Glendale, AZ
- Market: Glendale, AZ
- Buyer: Rise48 Equity - Zach Haptonstall
- Seller: Sundance Bay LLC - Ryan Baughman
- Units: 352
- Price per Unit: $159,375
The buyer, Rise48 Equity, represented by Zach Haptonstall, acquired the property from the seller, Sundance Bay LLC, represented by Ryan Baughman.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,992,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$199,311.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$265,942.62
Annual Debt Service$3,191,311.45
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