Updated Oct 28, 2024
Horizon Equity Group Acquires Multifamily Property In Rockwood, MI For $14.5M
14221 Park St, Gibraltar, Michigan 48173, United States
$14,500,000
Units
136
Asset Type
MultiFamily
Closing
Jun 22, 2022
About this deal
AI
A multifamily property located at 14221 Park St. in Rockwood, MI has been sold for a total price of $14,500,000. The transaction took place on 06/23/2022 and involved 136 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,500,000
- Address: 14221 Park St., Rockwood, MI
- Market: Rockwood, MI
The buyer of the property is Horizon Equity Group, while Richie Wolf is the seller. The deal was facilitated by Michael Schattner, Jonathan Brody, and Adi Ifergan from Rosewood Realty Group.
Players
Rockwood 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
1.09%
Cash-on-Cash
-0.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93