ABI Multifamily Sells 9.81-Acre Land Parcel At SEC 29th Ave & Dove Valley Road In Phoenix For $7.65M
$7,650,000
Building Size
—
Asset Type
Land
Closing
Dec 12, 2023
About this deal
AI
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.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.07%
Cash-on-Cash
-0.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93