Essex Realty Group Acquires Multifamily Property In Austin For $1.04M
SOLD
$1,040,000
National
See Similar DealsMultiFamily26,256 SF
Sold 01/20/2023
SOLD
Essex Realty Group Acquires Multifamily Property In Austin For $1.04M
516-518 Mayfield Ave & 5901-03 Race Ave
See Similar DealsMultiFamily26,256 SF
Sold 01/20/2023
Summary
Asset Type:MultiFamily
Price Per Square Foot:$39
Total Square Footage:26,256 SF
Transaction Type:Sale
A multifamily property in Austin has been sold for $1,040,000. The property, located at 516-518 Mayfield Ave & 5901-03 Race Ave, consists of 11 units with a price per unit of $94,545. The total square footage of the property is 26,256, resulting in a price per square foot of $40.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,040,000
- Units: 11
- Price Per Unit: $94,545
- Square Footage: 26,256
- Price Per Square Foot: $40
The sale was facilitated by Derek Kaptanoglu and Abe Eilian of Essex Realty Group, Inc. They represented the buyer and seller in the transaction, serving as the brokers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$55,466.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,694.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,930.13
Annual Debt Service$59,161.57
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