Revitate Cherry Tree Acquires Elkhart & Jeffersonville Multifamily For $44.5M
3530 East Lake Drive North, Elkhart, Indiana 46514, United States
$44,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 23, 2022
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.
Elkhart MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
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