Revitate Cherry Tree Acquires Elkhart & Jeffersonville Multifamily For $44.5M
SOLD
Indiana
See Similar DealsMultiFamily
Sold 10/24/2022
SOLD
Revitate Cherry Tree Acquires Elkhart & Jeffersonville Multifamily For $44.5M
3530 East Lake Drive North, Elkhart, Indiana 46514, United States
See Similar DealsMultiFamily
Sold 10/24/2022
Summary
INDIANA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,373,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$158,099.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$210,952.70
Annual Debt Service$2,531,432.43
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