Eric Wagner & James Ziegle Of Marcus & Millichap Sell Belvidere Multifamily For $2.2M
SOLD
$2,202,286
Illinois
See Similar DealsMultiFamily43,800 SF
Sold
SOLD
Eric Wagner & James Ziegle Of Marcus & Millichap Sell Belvidere Multifamily For $2.2M
2103 Christi Lane, Belvidere, IL, USA
See Similar DealsMultiFamily43,800 SF
Sold
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$50
Total Square Footage:43800 SF
Transaction Type:Sale
Located in Belvidere, the multifamily property at 2103 Christi Lane was recently sold in a closed transaction. The sale was facilitated by Marcus & Millichap brokers Eric Wagner and James Ziegle. The property consists of 49 units, with a price per unit (PPU) of $44,945, resulting in a total sale price of $2,202,286.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,202,286
- Address: 2103 Christi Lane
- Market: Belvidere
- Brokers: Eric Wagner & James Ziegle - Marcus & Millichap
- Units: 49
- PPU: $44,945
The sale of the multifamily property at 2103 Christi Lane was successfully executed with the assistance of Eric Wagner and James Ziegle from Marcus & Millichap. This transaction highlights their expertise in facilitating closed deals in the Belvidere market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$117,455.24
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,824.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,439.96
Annual Debt Service$125,279.51
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