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
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.
Players
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