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915 Mulberry Street

Updated Feb 7, 2025

Thomas West Purchases Multifamily Property At 915 Mulberry Street From Sean Dailey For $10M
SOLDMultiFamily

Thomas West Purchases Multifamily Property At 915 Mulberry Street From Sean Dailey For $10M

915 Mulberry Street

$10,000,000

$227/SF

Building Size

43,900 SF

Asset Type

MultiFamily

Closing

Nov 22, 2024

About this deal

AI

The property asset involved in this transaction is a multifamily building located at 915 Mulberry Street in Des Moines. The sale price was $10,000,000 for this asset which consists of 62 units, comprising a total square footage of 43,900. The price per unit was recorded at $161,290, while the price per square foot was noted as $227.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $10,000,000
  • Units: 62
  • Square Footage: 43,900
  • Price Per Unit: $161,290
  • Price Per Square Foot: $227
  • Buyer: Thomas West
  • Seller: Sean Dailey
  • Broker: Sean Dailey - Homesmart Connect

The key individuals in this transaction include Thomas West, who was the buyer, and Sean Dailey, who was both the seller and the broker representing the deal through Homesmart Connect. Sean Dailey played a dual role in this transaction, facilitating the sale while also selling the property he represented.

Players

Sean Dailey

HomeSmart

Broker

$56.4M

vol

8 deals

Broker
Keller Williams Realty
Keller Williams RealtyBrokerage

Des Moines MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $227 per square foot on a published $10M for 43,900 square feet (2024).

Visit Sean Dailey to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.59%

Cash-on-Cash

-0.45%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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