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3649 173rd Court, Lansing, ...

Robert Imhoff's Lansing Riverwood LLC Acquires Multifamily Property In Lansing For $37.7M
SOLDMultiFamily

Robert Imhoff's Lansing Riverwood LLC Acquires Multifamily Property In Lansing For $37.7M

3649 173rd Court, Lansing, Illinois 60438, United States

$37,700,000

Building Size

Asset Type

MultiFamily

Closing

Jun 21, 2022

AI

The multifamily property located at 3649 173rd Court in Lansing has been sold in a recent transaction. The property consists of 354 units and was sold for a total price of $37,700,000, which comes out to an average price per unit of $106,497. The buyer in this transaction is Robert Imhoff, representing Lansing Riverwood LLC, while the seller is Bayshore Properties. This transaction took place in the Lansing market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $37,700,000
  • Units: 354
  • Price Per Unit: $106,497
  • Buyer: Robert Imhoff - Lansing Riverwood LLC
  • Seller: Bayshore Properties
  • Market: Lansing

Robert Imhoff, representing Lansing Riverwood LLC, acted as the buyer in this transaction. Lansing Riverwood LLC acquired the multifamily property located at 3649 173rd Court in Lansing from Bayshore Properties. This deal marks a significant transaction in the Lansing market.

Players

BP
Bayshore PropertiesSeller

Lansing MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.42%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93