Kenny Clarke Of Pinnacle Real Estate Advisors Represents Buyer In Colorado Springs Sale For $6.6M
SOLD
$6,600,000
Colorado
See Similar DealsMultiFamily
SOLD
Kenny Clarke Of Pinnacle Real Estate Advisors Represents Buyer In Colorado Springs Sale For $6.6M
418 E Brookside St, Colorado Springs...
See Similar DealsMultiFamily
Summary
COLORADO
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41
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