Friedman Real Estate Facilitates $9.64M Multifamily Sale In Lansing, Michigan
SOLD
$9,640,000
Michigan
See Similar DealsMultiFamily
Sold
SOLD
Friedman Real Estate Facilitates $9.64M Multifamily Sale In Lansing, Michigan
5723 Richwood Street, Lansing, Michigan 48911, United States
See Similar DealsMultiFamily
Sold
Summary
MICHIGAN
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 5723-5811 Richwood St in Lansing, Michigan has been sold for $9,640,000. The property spans across 3.34 acres. The sale was facilitated by Peter Jankowski of Friedman Real Estate.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $9,640,000
- Address: 5723-5811 Richwood St
- Market: Lansing, Michigan
- Acres: 3.34
Peter Jankowski from Friedman Real Estate played a crucial role as the broker in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$514,133.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,248.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,698.52
Annual Debt Service$548,382.22
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