Bold Partners Acquires MultiFamily Property In Flint For $3.0M
SOLD
$3,000,000
Michigan
See Similar DealsMultiFamily
SOLD
Bold Partners Acquires MultiFamily Property In Flint For $3.0M
1237 N Orange Grove Ave, West Holly...
See Similar DealsMultiFamily
Summary
MICHIGAN
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily building located at 1237 N. Orange Grove in West Hollywood has been sold for $3 million. The property, built in 1926, features eight one-bedroom/one-bath apartments with hardwood flooring, modernized kitchens and baths, and designer fixtures. Amenities include seven parking spaces, laundry facilities, and a community courtyard patio with seating.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $3,000,000.00
- Market: Flint
- Address: 1237 N Orange Grove Ave, West Hollywood
- Buyer: Bold Partners
- Seller: Private Investor
- Buyer's Rep: Kimberly Stepp (Stepp Commercial)
Kimberly Stepp of Stepp Commercial represented both the seller and buyer, facilitating the acquisition of the property by Bold Partners from a private investor based in Los Angeles.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$160,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37
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