Updated Oct 28, 2024
OneWall Communities Acquires Multifamily Property In Camp Springs For $23M
5215 Morris Avenue, Suitland, Maryland 20746, United States
$23,000,000
Units
178
Asset Type
MultiFamily
Closing
Oct 23, 2022
About this deal
AI
The multifamily property located at 5215 Morris Ave #5 in Camp Springs, Suitland, MD has been sold in a closed transaction. The property consists of 178 units and was sold for a total price of $23,000,000, resulting in an average price per unit of $129,213.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Address: 5215 Morris Ave #5, Camp Springs, Suitland, MD
- Market: Suitland, MD
- Buyer: OneWall Communities
- Seller: Railfield Realty Partners
- Broker: CBRE
- Units: 178
- Price Per Unit: $129,213
In this transaction, OneWall Communities acted as the buyer, while Railfield Realty Partners was the seller. CBRE represented the buyer and seller as the broker.
Players
Suitland 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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93