$2.15M Sale Of 20-Unit Multifamily Property In North Liberty, Indiana Sets Regional Record For Price Per Unit
601 West Center Drive North Liberty, IN 46554, USA
$2,150,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 21, 2023
AI
The Vues At North Liberty, a 20-unit apartment property located at 601 West Center Drive in North Liberty, Indiana, has been sold for $2,150,000. The sale was brokered by Marcus & Millichap.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,150,000
- Units: 20
- Price per Unit: $107,500
- Market: North Liberty, Indiana
The sale of The Vues At North Liberty set a regional record for price per unit in multifamily properties in 2023. The buyer, a 1031 exchange buyer, purchased the property above the list price, indicating a strong market demand in the area.
Players
North Liberty 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
7.38%
Cash-on-Cash
-2.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93