Kiser Group Facilitates $4.12M Bulk Condo Sale In Waukegan Multifamily Deal
SOLD
$4,118,000
Illinois
See Similar DealsMultiFamily43,563 SF
Sold 08/31/2022
SOLD
Kiser Group Facilitates $4.12M Bulk Condo Sale In Waukegan Multifamily Deal
3370 West Brooke Avenue, Waukegan, Illinois 60087, United States
See Similar DealsMultiFamily43,563 SF
Sold 08/31/2022
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$94
Total Square Footage:43,563 SF
Transaction Type:Sale
Matt Halper & Danny Mantis of Kiser Group facilitated the sale of a multifamily property located at 3370 W Brooke Ave in Waukegan. The transaction took place on August 31, 2022, with a sale price of $4,118,000. The property consists of 58 units, with an average price per unit of $71,000. The total square footage of the property is 43,563, resulting in a price per square foot of $95.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,118,000
- Address: 3370 W Brooke Ave
- Market: Waukegan
- Brokers: Matt Halper & Danny Mantis - Kiser Group
- Units: 58
- Price per Unit: $71,000
- Total Square Footage: 43,563
- Price per Square Foot: $95
The sale involved a bulk condo transaction where the seller owned 58 out of the building's 74 units.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$219,626.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,630.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,521.42
Annual Debt Service$234,257.05
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