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19400 South Glen Boulevard

Friedman Real Estate Brokers $16.9 Million Sale Of Multifamily South Glen Apartments In Brownstown MI
SOLDMultiFamily

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

Peter Jankowski

Friedman Real Estate

Broker

$88.7M

vol

7 deals

Broker

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