Updated Sep 5, 2024
TrueRate Services Brokers $11.2M Multifamily Sale In Spartanburg, SC
1200 College Pointe Lane
$11,220,000
$50/SF
Building Size
221,619 SF
Asset Type
MultiFamily
Closing
Aug 8, 2022
About this deal
AI
The multifamily property located at 1200 College Pointe Ln. in Spartanburg, SC has been sold for a price of $11,220,000. The property spans over 221,619 square feet, resulting in a price per square foot of $50.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,220,000
- Square Footage: 221,619
- Price per Square Foot: $50
- Address: 1200 College Pointe Ln., Spartanburg, SC
- Market: Spartanburg, SC
The brokers involved in the deal were Samuel Finkler, Audley Clarke, and Andrew Hyans from TrueRate Services.
Players
Spartanburg 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
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93