Kiser Group Facilitates $7.25M Sale Of Lockport Multifamily Property
SOLD
$7,250,000
Illinois
See Similar DealsMultiFamily64,000 SF
Sold 01/06/2021
SOLD
Kiser Group Facilitates $7.25M Sale Of Lockport Multifamily Property
551 Diane Court, Lockport, IL, USA
See Similar DealsMultiFamily64,000 SF
Sold 01/06/2021
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$113
Total Square Footage:64,000 SF
Transaction Type:Sale
The multifamily property located at 551 Diane Court in Lockport was recently sold for $7,250,000. The transaction took place on January 6, 2021. The property consists of 80 units, with an average price per unit (PPU) of $90,625. This sale was facilitated by brokers Matt Halper, Danny Mantis, and Lee Kiser from Kiser Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,250,000
- Address: 551 Diane Court
- Market: Lockport
- Units: 80
- PPU: $90,625
- Brokers: Matt Halper, Danny Mantis, and Lee Kiser - Kiser Group
The involvement of Matt Halper, Danny Mantis, and Lee Kiser from Kiser Group played a crucial role in the successful sale of this multifamily property. Their expertise and negotiations skills helped facilitate the transaction. This deal showcases the value and demand for multifamily properties in the Lockport market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$386,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,757.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,368.70
Annual Debt Service$412,424.39
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