Friedman Real Estate Brokers $16.9 Million Sale Of Multifamily South Glen Apartments In Brownstown MI
19400 South Glen Boulevard
$16,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 31, 2025
AI
The property involved in the transaction is the South Glen Apartments, a multifamily asset located at 19400 South Glen Boulevard in Brownstown Township, MI. The sale was finalized at a transaction price of $16,900,000 for 159 units, which equates to a price per unit of $106,289.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,900,000
- Address: 19400 South Glen Boulevard
- Market: Brownstown Township, MI
- Units: 159
- Price Per Unit: $106,289
Friedman Real Estate facilitated the transaction, with brokers Peter Jankowski and Rich Deptula representing the buyer and seller, both of whom remain undisclosed in this transaction.
Players
Brownstown Twp 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
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93