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Property Management Firm Acquires Multifamily In Rock Island County For $2.6M

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SOLD
$2,600,000

Illinois

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MultiFamily38,702 SF
Sold 08/19/2022
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Property Image
SOLD

Property Management Firm Acquires Multifamily In Rock Island County For $2.6M

1215 24th Street Place

See Similar Deals
MultiFamily38,702 SF
Sold 08/19/2022
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$67
Total Square Footage:38,702 SF
Transaction Type:Sale

The multifamily property located at 1215 24th St Pl in Rock Island County, Moline has been sold in a closed transaction. The property consists of 42 units, with a price per unit of $61,905. The total square footage of the property is 38,702, with a price per square foot of $67. The sale price for the property was $2,600,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,600,000
  • Units: 42
  • Price per Unit: $61,905
  • Square Footage: 38,702
  • Price per Square Foot: $67

The buyer of the property is a property management firm, represented by Kevin "K-Roc" Rocio from Properties Christie's International Real Estate. On the other hand, the seller's representative in the deal is Scott Harris from Marcus & Millichap.

Note from broker: Kevin "K-Roc" Rocio is a real estate agent who assists local, national, and global buyers of investment real estate in Illinois. He provides VIP service to all his clients, working closely with his lending partner, Jerry Kussy of Liberty Bank for Savings. If you wish to connect with Kevin, you can reach out to him via ovou.me/rocadvisorygroup.

Players

Kevin Rocio
13 deals$15.5M volume(312) 972-4381
BROKER

Scott Harris
Marcus & Millichap
7 deals$163.9M volume
BROKER

Details

SOLD
IMAGE: Kevin "K-Roc" Rocio DATE: 08/19/2022 ADDRESS: 1215 24th St Pl MARKET: Rock Island County, Moline ASSET TYPE: Multifamily BUYER: Property Management Firm BUYER'S REP: Kevin "K-Roc" Rocio (@RocAdvisoryGroup) - @properties Christie's International Real Estate SELLER'S REP: Scott Harris - Marcus & Millichap SALE PRICE: $2,600,000 UNITS: 42 ~ PPU: $61,905 SF: 38,702 ~ PPSF: $67 NOTE FROM BROKER: Kevin "K-Roc" Rocio represents local, national and global buyers of Investment Real Estate in Illinois. Working together with his Lending Partner, Jerry Kussy of Liberty Bank for Savings, he delivers VIP Service to all his clients. You can connect with him via ovou.me/rocadvisorygroup

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,237.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,325.33
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