Updated Sep 9, 2024
Kenny Clarke Of Pinnacle Real Estate Advisors Represents Buyer In Colorado Springs Sale For $6.6M
418 E Brookside St, Colorado Springs...
$6,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
About this deal
AI
The property involved in this transaction is Brookside Apartments, located at 418-432 E. Brookside St. in Colorado Springs. The building, built in 1955, consists of 39 apartment units. The sale price for the property was $6,600,000, equating to $170,000 per unit.
Summary of transaction details:
- Property Type: Apartment Building
- Transaction Amount: $6,600,000.00
- Address: 418 E Brookside St, Colorado Springs
- Market: Colorado Springs
- Square Footage: 0
- Buyer: Undisclosed
- Buyer’s Representative: Kenny Clarke
- Agency: Pinnacle Real Estate Advisors
The transaction was facilitated by Michael Krebsbach and Kenny Clarke from Pinnacle Real Estate Advisors, who represented the buyer in the deal. The seller's details are not disclosed in the transaction records.
Players
Colorado Springs 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
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93