Updated Oct 28, 2024
Monument Capital Management Acquires Multifamily Asset In Brooklyn Park, Minnesota For $19.8M
5840 73rd Avenue North, Brooklyn Park, Minnesota 55429, United States
$19,750,000
Units
144
Asset Type
MultiFamily
Closing
Jan 27, 2022
About this deal
AI
The multifamily property located at 5840 73rd Avenue North in Brooklyn Park, Minnesota has been sold in a transaction closed on January 27, 2022. This property spans across 7.5 acres and consists of 144 units. The sale price for this transaction was $19,750,000, resulting in a per unit price of $137,153.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $19,750,000
- Number of Units: 144
- Price per Unit: $137,153
- Address: 5840 73rd Avenue North, Brooklyn Park, Minnesota
- Market: Brooklyn Park, Minnesota
- Buyer: Monument Capital Management - Stuart Zook & Erin Knight
- Seller: North Shore Development Partners
- Broker: Ted Brickel - Colliers
The buyer in this transaction is Monument Capital Management, represented by Stuart Zook & Erin Knight. The seller is North Shore Development Partners. Ted Brickel from Colliers served as the broker in this deal.
Players
Minneapolis 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
0.80%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93