Updated Sep 9, 2024
Lance Eckhart Acquires Multifamily Property In Beaumont For $3.175M
1 Beaumont Avenue
$3,175,000
$1/SF
Building Size
3,179,880 SF
Asset Type
MultiFamily
Closing
Mar 9, 2023
About this deal
AI
A multifamily property located at 1 Beaumont Avenue in the Beaumont market has been sold for a total price of $3,175,000. The property consists of 180 single-family residences with a combined total square footage of 3,179,880. The sale price per square foot is $1. The property spans across 73 acres of land, resulting in a price per land acre of $43,493.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,175,000
- Square Footage: 3,179,880
- Price per Square Foot: $1
- Land Acres: 73
- Price per Land Acre: $43,493
The buyer of the property is Lance Eckhart, while the seller is Chet Diamond. The deal was facilitated by Jake Plewa of Remax, who represented both parties throughout the transaction.
On the Map
$3,175,000
$1/SF
MultiFamily
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Players
Market 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
5.00%
Cash-on-Cash
-1.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93