Bold Partners Acquires MultiFamily Property In Flint For $3.0M
1237 N Orange Grove Ave, West Holly...
$3,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 20, 2023
AI
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.
Players
Flint 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
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93