Enterprise Community Development Acquires Multifamily Complex In Aspen Hill, MD For $75.8M
3214 Hewitt Avenue Aspen Hill, MD 20906, USA
$75,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 26, 2023
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.
Silver Spring 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93