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ABI Multifamily Sells 9.81-Acre Land Parcel At SEC 29th Ave & Dove Valley Road In Phoenix For $7.65M
SOLD
$7,650,000
Minnesota
See Similar DealsLand
Sold 12/12/2023
SOLD
ABI Multifamily Sells 9.81-Acre Land Parcel At SEC 29th Ave & Dove Valley Road In Phoenix For $7.65M
Land
Sold 12/12/2023
Summary
Asset Type:Land
Transaction Type:Sale
ABI Multifamily, the leading multifamily brokerage in the Western U.S., announced the $7.65 million sale of a 9.81-acre land parcel located at the southeast corner of 29th Avenue and Dove Valley Road in North Phoenix. The transaction took place on December 12, 2023. The property is zoned as land and covers an area of 9.81 acres in Phoenix, Arizona.
Summary of transaction details
- Property Type: Land
- Transaction Amount: $7,650,000
- Address: SEC 29th Avenue & Dove Valley Road, Phoenix, AZ
- Market: Phoenix, AZ
- Acres: 9.81
The sale of this 9.81-acre land parcel was facilitated by Patrick Burch, representing ABI Multifamily. Patrick Burch is a broker at ABI Multifamily, a renowned multifamily brokerage firm. The transaction represents another successful deal for ABI Multifamily in the Western U.S. real estate market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$408,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$27,178.83
Cash-on-Cash Return-1.27%
Monthly Debt Service$36,264.90
Annual Debt Service$435,178.83
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