Essex Realty Group, Inc. Sells 138-Unit Multifamily Portfolio In Matteson For $10.3M
SOLD
$10,300,000
Illinois
See Similar DealsMultiFamily106,775 SF
Sold 01/13/2023
SOLD
Essex Realty Group, Inc. Sells 138-Unit Multifamily Portfolio In Matteson For $10.3M
4035 Lindenwood Drive
See Similar DealsMultiFamily106,775 SF
Sold 01/13/2023
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$96
Total Square Footage:106,775 SF
Transaction Type:Sale
A portfolio of 10 properties consisting of 138 units has been sold in Matteson, Illinois. The properties are located at 4035-4043, 4046-4050, 4047, 4101-4105, 4104-4112, 4124-4130, 4205-4211, 4221-4229, 4222-4228, 4235 & 4301-4309 Lindenwood Drive. The multifamily asset has a total square footage of 106,775. The sale price for this transaction was $10,300,000, resulting in a price per unit of $74,638 and a price per square foot of $96.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $10,300,000
- Units: 138
- Price Per Unit: $74,638
- Square Footage: 106,775
- Price Per Square Foot: $96
- Market: Matteson
Congratulations to Kate Varde, Brian Karmowski & Derek Kaptanoglu from Essex Realty Group, Inc for representing the parties involved in this transaction. For any further inquiries regarding this deal, please contact Essex Realty Group, Inc.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$549,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,593.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,827.25
Annual Debt Service$585,927.06
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