Aaron Bloomberg Acquires Multifamily Property In Belvidere For $6.5M
SOLD
$6,500,000
Illinois
See Similar DealsMultiFamily73,000 SF
Sold 11/10/2023
SOLD
Aaron Bloomberg Acquires Multifamily Property In Belvidere For $6.5M
2108 Christi Lane
See Similar DealsMultiFamily73,000 SF
Sold 11/10/2023
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$89
Total Square Footage:73,000 SF
Transaction Type:Sale
A sale transaction has taken place for a multifamily property located at 2108 Christi Lane in Belvidere. The property consists of 92 units with a total square footage of 73,000. The sale price for this transaction was $6,500,000, resulting in a per unit price of $70,652 and a per square foot price of $89.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Address: 2108 Christi Lane, Belvidere
- Market: Belvidere
- Buyer: Aaron Bloomberg
- Seller: Carmen Galante
- Brokers: Eric Wagner & James Ziegler - Marcus & Millichap
The transaction was facilitated by brokers Eric Wagner and James Ziegler of Marcus & Millichap, who represented the parties involved in the deal. No additional details were provided regarding the financing of the transaction or any other relevant individuals or companies involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$346,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,093.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$30,813.32
Annual Debt Service$369,759.79
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