Updated Oct 29, 2024
New Hope Homes LLC Acquires Hilltop Village Apartments For $16.2M
1646 West 45th Street Jacksonville, Florida 32208, Usa
$16,200,000
Units
200
Asset Type
MultiFamily
Closing
May 1, 2023
About this deal
AI
Hilltop Village Apartments, a 200-unit complex located at 1646 West 45th Street in Jacksonville, has been sold for $16.2 million. The multifamily property, previously owned by Hilltop Village LP, was sold to New Hope Homes LLC. This transaction represents a substantial increase in value since its previous sale in 2012 for $4.6 million.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $16,200,000
- Units: 200
- Price per Unit: $81,000
New Hope Homes LLC, the buyer in this transaction, acquired Hilltop Village Apartments from Hilltop Village LP. The sale of this property marks a significant appreciation in value since its last sale. The multifamily complex is located in the Northside area of Jacksonville. The previous owner, Hilltop Village LP, was based in Tampa.
Players
Jacksonville 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
0.98%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93