Victorian MY Hazel LLC Acquires 152-Unit Multifamily Property In Montgomery For $13.5M
834 Victoria Drive, Montgomery, Illinois 60538, United States
$13,500,000
$125/SF
Building Size
107,200 SF
Asset Type
MultiFamily
Closing
Dec 6, 2021
AI
The Victorian Apartments, a 152-unit multifamily property located at 834 Victorian Dr in Montgomery, IL, has been sold for $13,500,000. The asset was listed exclusively by Marcus & Millichap and represented in the transaction by Randolph Taylor of Marcus & Millichap's Chicago Oak Brook office. The property consists of 32 large studios, 72 one-bedrooms, and 48 two-bedroom apartment homes.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,500,000
- Units: 152
- Price per Unit: $88,816
- Square Footage: 107,200
- Price per Square Foot: $126
- Address: 834 Victorian Dr, Montgomery, IL
- Market: Montgomery
The sale of Victorian Apartments was announced by Marcus & Millichap, a leading commercial real estate brokerage firm. Randolph Taylor, a Senior Associate and investment specialist in Marcus & Millichap's National Multi-Housing Division, represented both the buyer, Victorian MY Hazel LLC, and the seller, Hawthorn-Woodridge, LP, in the transaction.
Players
Montgomery 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
1.18%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93