Updated May 12, 2025
Friedman Real Estate Brokers $16.9 Million Sale Of Multifamily South Glen Apartments In Brownstown MI
19400 South Glen Boulevard
$16,900,000
Units
159
Asset Type
MultiFamily
Closing
Mar 31, 2025
About this deal
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.
On the Map
$16,900,000
MultiFamily
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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