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Marcus & Millichap Brokers Sale Of Multifamily Portfolio In Edwardsville For $14.85M

Property Image
SOLD
$14,850,000

Illinois

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MultiFamily145,238 SF
Sold 08/18/2021
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Property Image
SOLD

Marcus & Millichap Brokers Sale Of Multifamily Portfolio In Edwardsville For $14.85M

29 Devon Court, Edwardsville, IL, USA

See Similar Deals
MultiFamily145,238 SF
Sold 08/18/2021
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Summary

ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$102
Total Square Footage:145,238 SF
Transaction Type:Sale

The multifamily property located at 29 Devon Court, 211 Glen Lake Drive, 131 Dorset Court, 133 Dorset Court, 30-40 Devon Court, 1711-1713 North Main Street, 130 West Street, 79 Devon Court, 89 Devon Court, and 400-424 West Union Street in Edwardsville was recently sold. The transaction was facilitated by Austine Meeker & Aaron Kuroiwa of Marcus & Millichap. The property consists of 202 units and has a total square footage of 145,238. The sale price for the property was $14,850,000, resulting in a per unit price of $73,515 and a price per square foot of $102.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $14,850,000
  • Units: 202
  • Price Per Unit: $73,515
  • Total Square Footage: 145,238
  • Price Per Square Foot: $102
  • Market: Edwardsville

Austine Meeker & Aaron Kuroiwa of Marcus & Millichap represented the parties involved in the transaction, facilitating the sale of this multifamily property in Edwardsville. The sale of this property represents a significant investment opportunity in the thriving Edwardsville market.

Players

Aaron Kuroiwa
10 deals$111.5M volume
BROKER

Austin Meeker
Marcus & Millichap
5 deals$76.1M volume(317) 218-5349
BROKER

Details

SOLD
IMAGE: Austine Meeker & Aaron Kuroiwa DATE: 08/18/2021 ADDRESS: 29 Devon Court, 211 Glen Lake Drive, 131 Dorset Court, 133 Dorset Court, 30-40 Devon Court, 1711-1713 North Main Street, 130 West Street, 79 Devon Court, 89 Devon Court, 400-424 West Union Street MARKET: Edwardsville ASSET TYPE: Multifamily BROKER: Austine Meeker & Aaron Kuroiwa - Marcus & Millichap SALE PRICE: $14,850,000 UNITS: 202 ~ PPU: $73,515 SF: 145,238 ~ PPSF: $102

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

$792,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$52,758.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$70,396.58
Annual Debt Service$844,758.91