FINANCEDMultiFamily
Keel Team REI Refinances 197-Unit MHC Portfolio In Ludington & Crookston For $7.8M
5040 West Rasmussen Road, 202 7th Avenue South & 101 Willow Street Crookston
$7,808,000
$260,266/SF
Building Size
10 SF
Asset Type
MultiFamily
Closing
Feb 9, 2024
AI
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $7,808,000
- Units: 197
- Address: 5040 Rasmussen Road; 202 7th Avenue South; 101 Willow Street
- Market: Ludington, MI & Crookston, MN
- Lender: PNC Bank
- Landlord: Keel Team Real Estate Investments
- Broker: Scott Modelski - Black Bear Capital Partners
Players
Ludington MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.03%
Cash-on-Cash
-0.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93