Wiseman Residential Acquires Multifamily Property On S. Croft For $5M

The multifamily property located at 130 S. Croft has been sold in a recent transaction. The sale was facilitated by broker Michael Monempour from Charles Dunn Company. The property was sold for a total amount of $5,000,000, with a price per square foot (PPSF) of $458. The buyer of the property is Wiseman Residential, while the seller is Susan Oman Belsky. The purchase price per unit (PPU) was $305,555, and the capitalization rate (CAP) for the property is 3.18%. The gross rent multiplier (GRM) is 17.27.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,000,000
• Price per Square Foot (PPSF): $458
• Purchase Price per Unit (PPU): $305,555
• Capitalization Rate (CAP): 3.18%
• Gross Rent Multiplier (GRM): 17.27

The sale of this multifamily property marks an important transaction in the real estate market. Susan Oman Belsky acted as the seller, while Wiseman Residential acquired the property. Michael Monempour, representing Charles Dunn Company, played a crucial role as the broker in facilitating the deal. The property's location at 130 S. Croft and its attractive characteristics made it an appealing investment opportunity for the buyer.