Loboda Properties Acquires Multifamily Property In Harrison Twp For $22.2M
SOLD
$22,200,000
Michigan
See Similar DealsMultiFamily104,268 SF
Sold 04/14/2022
SOLD
Loboda Properties Acquires Multifamily Property In Harrison Twp For $22.2M
25879 Ashby Drive, Harrison Township, Michigan 48045, United States
See Similar DealsMultiFamily104,268 SF
Sold 04/14/2022
Summary
MICHIGAN
Asset Type:MultiFamily
Price Per Square Foot:$212
Total Square Footage:104,268 SF
Transaction Type:Sale
The multifamily property located at 25879 Ashby Dr in Harrison Twp, MI has been sold for a total price of $22,200,000. The transaction took place on April 14, 2022. The property consists of 75 units, with each unit valued at approximately $296,000. The total square footage of the property is 104,268, resulting in a price per square foot of $213. Kutumbarao Raavi was the seller of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,200,000
- Address: 25879 Ashby Dr, Harrison Twp, MI
- Market: Harrison Twp, MI
- Units: 75
- Price per Unit: $296,000
- Total Square Footage: 104,268
- Price per Square Foot: $213
The buyer of the property is Loboda Properties, represented by Michael Loboda and Yaakov Loboda. The brokerage firm involved in the transaction is Marcus & Millichap, with Gordon A. Navarre as the broker.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,183,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$78,871.92
Cash-on-Cash Return-1.27%
Monthly Debt Service$105,239.33
Annual Debt Service$1,262,871.91
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