Standard Communities Acquires Multifamily Property In Oakland For $54M
SOLD
$54,000,000
Illinois
See Similar DealsMultiFamily
Sold 09/07/2022
SOLD
Standard Communities Acquires Multifamily Property In Oakland For $54M
1061 East 41st Place, Chicago, Illinois 60653, United States
See Similar DealsMultiFamily
Sold 09/07/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
Standard Communities has purchased a multifamily property in Oakland for a total of $54,000,000. The property, located at 1061 E. 41st Place, consists of 148 units, resulting in an average price per unit of $364,865.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Address: 1061 E. 41st Place
- Market: Oakland
- Units: 148
- PPU: $364,865
The deal was facilitated by Jeffrey Jaeger and Robert Koerner, representing Standard Communities as their broker representatives.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,880,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$191,850.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$255,987.55
Annual Debt Service$3,071,850.59
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