Marcus & Millichap Brokers $2.6M Sale Of Student Housing In Normal, IL
SOLD
$2,575,000
Illinois
See Similar DealsOther18,600 SF
Sold 11/13/2020
SOLD
Marcus & Millichap Brokers $2.6M Sale Of Student Housing In Normal, IL
809-911 Franklin Avenue, Normal, IL, USA
See Similar DealsOther18,600 SF
Sold 11/13/2020
Summary
ILLINOIS
Asset Type:Other
Price Per Square Foot:$138
Total Square Footage:18,600 SF
Transaction Type:Sale
An student housing asset located at 809-911 Franklin Avenue and 907 Market Street in Normal has been sold for a price of $2,575,000. The transaction took place on November 13, 2020. The property consists of 56 units, resulting in a per unit price of $45,982.
Summary of transation details
- Property Type: Student Housing
- Transaction Amount: $2,575,000
- Units: 56
- Price per Unit (PPU): $45,982
- Date: November 13, 2020
- Address: 809-911 Franklin Avenue & 907 Market Street, Normal
The sale of this student housing asset was facilitated by Eric P. Bell and Mitchell Kiven of Marcus & Millichap.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$137,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$9,148.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,206.81
Annual Debt Service$146,481.76
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