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1200 College Pointe Lane

TrueRate Services Brokers $11.2M Multifamily Sale In Spartanburg, SC
SOLDMultiFamily

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

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

Samuel Finkler

Besen Partners

Broker

$151.1M

vol

33 deals

Broker

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