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Friedman Real Estate Brokers $16.9 Million Sale Of Multifamily South Glen Apartments In Brownstown MI
SOLD
Michigan
See Similar DealsMultiFamily
Sold
SOLD
Friedman Real Estate Brokers $16.9 Million Sale Of Multifamily South Glen Apartments In Brownstown MI
19400 South Glen Boulevard
See Similar DealsMultiFamily
Sold
Summary
MICHIGAN
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$901,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$60,042.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$80,114.62
Annual Debt Service$961,375.46
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