Marcus & Millichap Brokers $2.6M Sale Of Student Housing In Normal, IL
809-911 Franklin Avenue, Normal, IL, USA
$2,575,000
$138/SF
Building Size
18,600 SF
Asset Type
Other
Closing
Nov 12, 2020
AI
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.
Players
Normal Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.16%
Cash-on-Cash
-1.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93