WCI Rochester LLC, JA Rochester Heights LLC, BP Rochester Heights LLC & AA Rochester Heights LLC Acquire 147-Unit Multifamily Property In Rochester, MN For $17.9M
SOLD
$17,900,000
Minnesota
See Similar DealsMultiFamily
Sold 12/18/2022
SOLD
WCI Rochester LLC, JA Rochester Heights LLC, BP Rochester Heights LLC & AA Rochester Heights LLC Acquire 147-Unit Multifamily Property In Rochester, MN For $17.9M
1515 41st St NW, Rochester, Minnesota 55901, United States
See Similar DealsMultiFamily
Sold 12/18/2022
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
WCI Rochester LLC, JA Rochester Heights LLC, BP Rochester Heights LLC, and AA Rochester Heights LLC have collectively acquired a multifamily property located at 1515 41st St NW in Rochester, MN. The property, consisting of 147 units, was sold by Timberland Partners for a total price of $17,900,000, resulting in an average price per unit of $121,769.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,900,000
- Address: 1515 41st St NW, Rochester, MN
- Market: Rochester, MN
- Buyer: WCI Rochester LLC, JA Rochester Heights LLC, BP Rochester Heights LLC & AA Rochester Heights LLC
- Seller: Timberland Partners
- Units: 147
- Price Per Unit: $121,769
The buyers of the property were represented by their respective brokers: WCI Rochester LLC's REP, JA Rochester Heights LLC's REP, BP Rochester Heights LLC's REP, and AA Rochester Heights LLC's REP.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$954,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$63,594.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$84,855.13
Annual Debt Service$1,018,261.59
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