Marcus & Millichap Brokers Sell Multifamily Property In Loves Park & Rockford, IL For $8.3M
SOLD
$8,275,000
Illinois
See Similar DealsMultiFamily
Sold
SOLD
Marcus & Millichap Brokers Sell Multifamily Property In Loves Park & Rockford, IL For $8.3M
5817 N 2nd St, Loves Park, IL, USA
See Similar DealsMultiFamily
Sold
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
Located in Loves Park and Rockford, IL, this multifamily property at 5817 N 2nd St & 215 N 4th St has recently been sold. The transaction, which took place on July 29, 2021, was facilitated by brokers Eric Wagner & James Ziegler from Marcus & Millichap. The property consists of 111 units, commanding a sale price of $8,275,000. This translates to an average price per unit of $74,550.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,275,000
- Units: 111
- Price Per Unit: $74,550
- Market: Loves Park & Rockford, IL
Eric Wagner and James Ziegler, representing Marcus & Millichap, successfully brokered the deal for this multifamily property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$441,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,399.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,227.72
Annual Debt Service$470,732.66
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