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Pinnacle Real Estate Advisors Sells Timberglen Apartments Multifamily In Craig For $4.9M
SOLD
Colorado
See Similar DealsMultiFamily
Sold 05/22/2024
SOLD
Pinnacle Real Estate Advisors Sells Timberglen Apartments Multifamily In Craig For $4.9M
3465 Douglas Street
See Similar DealsMultiFamily
Sold 05/22/2024
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.
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Deal Type
30 years
10 years
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
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