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New Hope Homes LLC Acquires Hilltop Village Apartments For $16.2M
SOLD
$16,200,000
Florida
See Similar DealsMultiFamily
Sold 05/01/2023
SOLD
New Hope Homes LLC Acquires Hilltop Village Apartments For $16.2M
1646 West 45th Street Jacksonville, Florida 32208, Usa
See Similar DealsMultiFamily
Sold 05/01/2023
Summary
Asset Type:MultiFamily
Transaction Type:Sale
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.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$864,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,555.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,796.26
Annual Debt Service$921,555.18
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