Standard Communities Acquires Multifamily Property In Oakland For $54M
1061 East 41st Place, Chicago, Illinois 60653, United States
$54,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 6, 2022
AI
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.
Chicago MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93