Blue Magma Residential Acquires St. Louis Multifamily For $73.5M
SOLD
$73,500,000
Missouri
See Similar DealsMultiFamily
Sold 10/27/2022
SOLD
Blue Magma Residential Acquires St. Louis Multifamily For $73.5M
110 North 17th Street
See Similar DealsMultiFamily
Sold 10/27/2022
Summary
MISSOURI
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 110 N 17th St in St. Louis, MO has been sold. The property consists of 769 units and was sold for a total price of $73,500,000, resulting in a per unit price of $95,579. The transaction took place on October 27, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $73,500,000
- Address: 110 N 17th St, St. Louis, MO
- Market: St. Louis, MO
- Buyer: Blue Magma Residential
- Seller: Mills Properties - Bruce Mills & Kirk Mills
- Brokers: Daniel Wiele & Tom Maloney - MMG
Daniel Wiele and Tom Maloney from MMG represented the buyer and seller in this transaction.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,919,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$261,129.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$348,427.50
Annual Debt Service$4,181,129.98
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