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
Spartanburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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