Updated Dec 19, 2025
Marcus & Millichap Capital Corporation Arranges $7.6M Financing For 52-Unit Multifamily Property In Burlington IA
424 North 3rd Street
$7,600,000
Units
52
Asset Type
MultiFamily
Closing
Dec 19, 2025
About this deal
AI
The transaction involves a multifamily property located at 424 North 3rd Street in Burlington, Iowa. The sale was closed on December 19, 2025, for a total price of $7,600,000. This property comprises 52 units, yielding a per-unit price of $146,154.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,600,000
- Units: 52
- Price Per Unit: $146,154
- Broker: Robert Bhat - Marcus & Millichap
Marcus & Millichap Capital Corporation facilitated non-recourse financing amounting to $7.6 million for this property. The financing consists of a 5-year, interest-only loan at a 70% loan-to-value ratio, arranged for a private client, aiding in the successful completion of the transaction.
On the Map
$7,600,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.09%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93