Updated Oct 28, 2024
Revitate Cherry Tree Acquires Elkhart & Jeffersonville Multifamily For $44.5M
3530 East Lake Drive North, Elkhart, Indiana 46514, United States
$44,500,000
Units
392
Asset Type
MultiFamily
Closing
Oct 23, 2022
About this deal
AI
The recent closed transaction involves the sale of a multifamily property located at 3530 East Lake Drive North & 3014 Beech Grove Court in Elkhart & Jeffersonville, Indiana. The property consists of 392 units in total.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $44,500,000
- Units: 392
- Price per Unit (PPU): $113,520
The buyer of this property is Revitate Cherry Tree, represented by Alex Bhathal and Lisa Bhathal Merage.
The multifamily sale at 3530 East Lake Drive North, Elkhart, Indiana 46514, United States in Elkhart, Indiana sold for $44.5M in 2022. Reported inventory is 392 units across 392 units. Named participants on the 3530 East Lake Drive North, Elkhart, Indiana 46514, United States sale are Alex Bhathal, Lisa Bhathal Merage. This page is the Elkhart, Indiana file for the 3530 East Lake Drive North, Elkhart, Indiana 46514, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Elkhart sit in the Market section below. Filter that Elkhart multifamily set by closing date to see what else sold near 3530 East Lake Drive North, Elkhart, Indiana 46514, United States around 2022. Published consideration for 3530 East Lake Drive North, Elkhart, Indiana 46514, United States is $44.5M, dated 2022. Cite this Revitate Cherry Tree Acquires Elkhart & Jeffersonville Multifamily For $44.5M sale when underwriting similar multifamily product around Elkhart, Indiana.
Elkhart 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
0.36%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93