Wicker Park Capital Management Acquires Multifamily Property In Lexington, KY For $24M
SOLD
$24,000,000
Kentucky
See Similar DealsMultiFamily
SOLD
Wicker Park Capital Management Acquires Multifamily Property In Lexington, KY For $24M
3543 Tates Creek Road
See Similar DealsMultiFamily
Summary
KENTUCKY
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 3543 Tates Creek Rd in Lexington, KY has been sold for a total price of $24,000,000. The property consists of 181 units, with a per unit price of $132,597.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,000,000
- Address: 3543 Tates Creek Rd, Lexington, KY
- Market: Lexington, KY
- Buyer: Wicker Park Capital Management - Tom Jackson
- Seller: Engel Realty - Mike Spiker
- Broker: Jay Weiner & Jonathan Brody - Rosewood Realty Group
- Units: 181
- Price per Unit (PPU): $132,597
Wicker Park Capital Management, represented by broker Tom Jackson, acquired the property from Engel Realty, represented by Mike Spiker. The transaction was facilitated by brokers Jay Weiner and Jonathan Brody from Rosewood Realty Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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