Updated Oct 28, 2024
VennPoint Real Estate Acquires Multifamily Property In Royal Oak, MI For $29.1M
1210 Morse Avenue, Royal Oak, Michigan 48067, United States
$29,100,000
Units
75
Asset Type
MultiFamily
Closing
Sep 19, 2022
About this deal
AI
The multifamily property located at 1210 Morse Ave in Royal Oak, MI has been sold. The transaction took place on September 20, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $29,100,000
- Units: 75
- Price Per Unit (PPU): $388,000
- Buyer: VennPoint Real Estate
VennPoint Real Estate acquired the property for a total of $29,100,000. The multifamily asset consists of 75 units with a price per unit of $388,000. The transaction took place in Royal Oak, MI.
The multifamily sale at 1210 Morse Avenue, Royal Oak, Michigan 48067, United States in Royal Oak, Michigan sold for $29.1M in 2022. Reported inventory is 75 units across 75 units. This page is the Royal Oak, Michigan file for the 1210 Morse Avenue, Royal Oak, Michigan 48067, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Royal Oak sit in the Market section below. Filter that Royal Oak multifamily set by closing date to see what else sold near 1210 Morse Avenue, Royal Oak, Michigan 48067, United States around 2022. Published consideration for 1210 Morse Avenue, Royal Oak, Michigan 48067, United States is $29.1M, dated 2022. Cite this VennPoint Real Estate Acquires Multifamily Property In Royal Oak, MI For $29.1M sale when underwriting similar multifamily product around Royal Oak, Michigan.
On the Map
$29,100,000
MultiFamily
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Royal Oak 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
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93