Updated Sep 9, 2024
Friedman Real Estate Facilitates $9.64M Multifamily Sale In Lansing, Michigan
5723 Richwood Street, Lansing, Michigan 48911, United States
$9,640,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 23, 2021
About this deal
AI
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.
The multifamily sale at 5723 Richwood Street, Lansing, Michigan 48911, United States in Lansing, Michigan sold for $9.6M in 2021. 5723 Richwood Street, Lansing, Michigan 48911, United States is classified as Multifamily on Traded. Peter Jankowski, Friedman Real Estate appear on the sale alongside Friedman Real Estate. This page is the Lansing, Michigan file for the 5723 Richwood Street, Lansing, Michigan 48911, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Lansing sit in the Market section below. Filter that Lansing multifamily set by closing date to see what else sold near 5723 Richwood Street, Lansing, Michigan 48911, United States around 2021. Published consideration for 5723 Richwood Street, Lansing, Michigan 48911, United States is $9.6M, dated 2021. Cite this Friedman Real Estate Facilitates $9.64M Multifamily Sale In Lansing, Michigan sale when underwriting similar multifamily product around Lansing, Michigan.
Lansing 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
1.65%
Cash-on-Cash
-0.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93