Updated Oct 29, 2024
Enterprise Community Development Acquires Multifamily Complex In Aspen Hill, MD For $75.8M
3214 Hewitt Avenue Aspen Hill, MD 20906, USA
$75,800,000
Units
345
Asset Type
MultiFamily
Closing
Jun 26, 2023
About this deal
AI
Enterprise Community Development has acquired Westchester West Apartments, a 345-unit affordable multifamily complex located at 3214 Hewitt Avenue in Aspen Hill, Maryland. The property was sold for $75.8 million. The sale price equates to a per unit price of approximately $219,710.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $75,800,000
- Units: 345
- Market: Aspen Hill, MD
Christine Madigan, representing Enterprise Community Development, facilitated the acquisition of Westchester West Apartments.
The multifamily sale at 3214 Hewitt Avenue Aspen Hill, MD 20906, USA in Silver Spring, Maryland sold for $75.8M in 2023. Reported inventory is 345 units across 345 units. Named participants on the 3214 Hewitt Avenue Aspen Hill, MD 20906, USA sale are Christine Madigan. This page is the Silver Spring, Maryland file for the 3214 Hewitt Avenue Aspen Hill, MD 20906, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Silver Spring sit in the Market section below. Filter that Silver Spring multifamily set by closing date to see what else sold near 3214 Hewitt Avenue Aspen Hill, MD 20906, USA around 2023. Published consideration for 3214 Hewitt Avenue Aspen Hill, MD 20906, USA is $75.8M, dated 2023. Cite this Enterprise Community Development Acquires Multifamily Complex In Aspen Hill, MD For $75.8M sale when underwriting similar multifamily product around Silver Spring, Maryland.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93