New Frontier Companies Acquires Lyons Multifamily For $8.8M
SOLD
$8,800,000
Illinois
See Similar DealsMultiFamily753,588 SF
Sold 06/30/2020
SOLD
New Frontier Companies Acquires Lyons Multifamily For $8.8M
8019 Ogden Avenue, Lyons, IL, USA
See Similar DealsMultiFamily753,588 SF
Sold 06/30/2020
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$11
Total Square Footage:753,588 SF
Transaction Type:Sale
The multifamily property located at 8019 Ogden Ave in Lyons, IL has been sold. The transaction took place on June 30, 2021, with a sale price of $8,800,000. The property consists of 120 units, with a price per unit of $73,333.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,800,000
- Units: 120
- Price Per Unit: $73,333
The buyer of the property is New Frontier Companies, while the seller is Barron Development LLC. The transaction was facilitated by Kyle Shoemaker of Affordable Housing Investment Brokerage, who represented the buyer in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$469,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$31,264.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$41,716.49
Annual Debt Service$500,597.87
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