Glencrest Group Acquires Multifamily In Plymouth, Minnesota For $11.3M
SOLD
$11,300,000
Minnesota
See Similar DealsMultiFamily
Sold 11/04/2022
SOLD
Glencrest Group Acquires Multifamily In Plymouth, Minnesota For $11.3M
15205 18th Avenue North, Plymouth, Minnesota 55447, United States
See Similar DealsMultiFamily
Sold 11/04/2022
Summary
MINNESOTA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 15205 18th Ave N in Plymouth, Minnesota has recently been sold in a closed transaction. The property consists of 64 units and was sold by Heartland Properties Inc to Glencrest Group for a total sale price of $11,300,000. The price per unit for this transaction was $176,563.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,300,000
- Units: 64
- Price per Unit: $176,563
- Buyer: Glencrest Group
- Seller: Heartland Properties Inc
- Brokers: Scott Harris & Abe Roberts - Marcus & Millichap
The deal was facilitated by brokers Scott Harris and Abe Roberts from Marcus & Millichap. They represented Glencrest Group and provided professional assistance throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$602,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,146.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,567.76
Annual Debt Service$642,813.18
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