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
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