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John Stoops Acquires Peak At Oro Valley Multifamily For $59.8M
SOLD
$59,800,000
+ 1
Arizona
See Similar DealsMultiFamily
Sold 03/12/2024
SOLD
John Stoops Acquires Peak At Oro Valley Multifamily For $59.8M
8215 North Oracle Road
See Similar DealsMultiFamily
Sold 03/12/2024
+ 1
Summary
ARIZONA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 8215 North Oracle Road in Oro Valley, AZ, was recently sold for $59,800,000. The asset, known as Peak at Oro Valley, comprises 330 units, equating to a per-unit price of $181,212. The sale was completed between the buyer, John Stoops, an affiliate of AHC Funds, and the seller, APRA Capital LLC.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $59,800,000
- Units: 330
- Price Per Unit: $181,212
- Address: 8215 North Oracle Road
- Market: Oro Valley, AZ
The deal was facilitated by the team of brokers from Institutional Property Advisors - Marcus & Millichap, namely Cliff David, Clint Wadlund, Hamid Panahi, and Steve Gebing. Their expertise played a crucial role in finalizing the transaction, representing both the buyer and the seller effectively.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,189,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$212,456.78
Cash-on-Cash Return-1.27%
Monthly Debt Service$283,482.51
Annual Debt Service$3,401,790.10
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