Updated Dec 4, 2024
Marcus & Millichap Capital Corporation Secures $2.57 Million Loan For 34-Unit Multifamily In Aurora
1 South View Street
$2,568,000
Units
34
Asset Type
MultiFamily
Closing
Aug 15, 2024
About this deal
AI
A 34-unit multifamily property was acquired in Aurora, IL, with financing arranged by Marcus & Millichap Capital Corporation. The property, located at 1 South View Street, is secured by a loan amount of $2,568,000 with a five-year term, featuring a 7.39% interest rate and 30-year amortization.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,568,000
- Address: 1 South View Street
- Market: Aurora
- Units: 34
- Loan Terms: five-year loan, 7.39% interest rate, 30-years amortization
- Broker: Michael Hughes - Marcus & Millichap Capital Corporation
The deal was secured by Michael Hughes, representing the local credit union in this financing arrangement, facilitating the acquisition in the multifamily sector of the Aurora market.
On the Map
$2,568,000
MultiFamily
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Aurora MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.18%
Cash-on-Cash
-1.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93