Updated Dec 4, 2024
Global Health Link Inc. Acquires Phalen Shores Multifamily In Saint Paul For $5.01M
965 East Ivy Avenue
$5,010,000
Units
53
Asset Type
MultiFamily
Closing
Sep 26, 2023
About this deal
AI
Global Health Link Inc. has purchased the 53-unit Phalen Shores property in St. Paul, Minnesota for $5.01 million. The property, located at 965 Ivy Avenue East, is a multifamily asset. The sale price translates to an average unit price of $94,528, which is lower than the average unit price of $152,719 in the Twin Cities metro area.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $5,010,000
- Units: 53
- Price Per Unit (PPU): $94,528
- Buyer: Global Health Link Inc. - Ahmed Issa
- Seller: Steven Scott Management Inc. - Mark Jensen
- Brokers: Abe Roberts & Michael Jacobs - Marcus & Millichap
The buyer in this transaction, Global Health Link Inc., was represented by Ahmed Issa. The seller, Steven Scott Management Inc., was represented by Mark Jensen. The brokers involved in the deal were Abe Roberts and Michael Jacobs from Marcus & Millichap.
Players
Saint Paul 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
3.17%
Cash-on-Cash
-0.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93