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Pinnacle Real Estate Advisors Sells Timberglen Apartments Multifamily In Craig For $4.9M

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SOLD
$4,900,000

Colorado

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MultiFamily
Sold 05/22/2024
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Property Image
SOLD

Pinnacle Real Estate Advisors Sells Timberglen Apartments Multifamily In Craig For $4.9M

3465 Douglas Street

See Similar Deals
MultiFamily
Sold 05/22/2024
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Summary

COLORADO
Asset Type:MultiFamily
Transaction Type:Sale

The transaction involved the sale of Timberglen Apartments, a multifamily property situated at 3465 Douglas Street in Craig, Colorado. The sale price was $4,900,000 for the 54 units, resulting in a price per unit of $90,741.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,900,000
  • Units: 54
  • Price Per Unit: $90,741
  • Address: 3465 Douglas Street
  • Market: Craig, CO

Kenny Clarke and Michael Krebsbach from Pinnacle Real Estate Advisors represented the sale, orchestrating the terms and completion of this deal for the Timberglen Apartments property.

Players

Kenny Clarke
2 deals$11.5M volume(720) 638-5416
BROKER

Michael Krebsbach
Pinnacle Real Estate Advisors
2 deals$11.5M volume(303) 407-9782
BROKER

Details

SOLD
IMAGE: 05/22/2024 ADDRESS: 3465 Douglas Street MARKET: Craig, CO ASSET TYPE: Multifamily BROKERS: Kenny Clarke & Michael Krebsbach - Pinnacle Real Estate Advisors SALE PRICE: $4,900,000 UNITS: 54 ~ PPU: $90,741 NOTE: Pinnacle Real Estate Advisors orchestrated the sale of Timberglen Apartments, a multifamily property located in Craig, a small city in northwestern Colorado, for $4.9 million.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$261,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
Annual Debt Service$278,742.00