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Marcus & Millichap Capital Corporation Secures $2.57 Million Loan For 34-Unit Multifamily In Aurora

Property Image
FINANCED
$2,568,000

Illinois

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MultiFamily
Financed 08/15/2024
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Property Image
FINANCED

Marcus & Millichap Capital Corporation Secures $2.57 Million Loan For 34-Unit Multifamily In Aurora

1 South View Street

See Similar Deals
MultiFamily
Financed 08/15/2024
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:MultiFamily
Transaction Type:Loan

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.

Players

Michael Hughes
Marcus & Millichap
Michael Hughes
4 deals$32.9M volume(262) 364-1938
BROKER

Details

FINANCED
IMAGE: Michael Hughes DATE: 08/15/2024 ADDRESS: 1 South View Street MARKET: Aurora ASSET TYPE: Multifamily ~ UNITS: 34 BROKER: Michael Hughes (@Biggems44) - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $2,568,000 LOAN TERMS: five-year loan include a 7.39% interest rate with 30-years amortization NOTE: Marcus & Millichap Capital Corporation arranged $2.57 million in financing for the acquisition of a 34-unit multifamily property in Aurora, IL. The five-year loan, secured by Michael Hughes with a local credit union, features a 7.39% interest rate and 30-year amortization.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,568,000.00

Monthly NOI$17,120.00
Monthly Debt Service$16,231.51
Change in Cash Flow$0.00
Refinance Proceeds$0.00