Frank Forte Of Lucern Capital Acquires 102-Unit Multifamily Property In Charlotte For $10.2M
SOLD
North Carolina
See Similar DealsMultiFamily6,667 SF
Sold 05/19/2020
SOLD
Frank Forte Of Lucern Capital Acquires 102-Unit Multifamily Property In Charlotte For $10.2M
1035 Marble St, Charlotte, NC, USA
See Similar DealsMultiFamily6,667 SF
Sold 05/19/2020
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$1,529
Total Square Footage:6,667 SF
Transaction Type:Sale
A multifamily property located at 1035 Marble St. in Charlotte, NC was recently sold for a price of $10,200,000. The transaction took place on 05/19/2021 and involved a total of 102 units. The sale price per unit was $100,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,200,000
- Address: 1035 Marble St., Charlotte, NC
- Market: Charlotte, NC
- Buyer: Frank Forte - Lucern Capital
- Seller: Daryl Pittman
- Brokers: Jonathan Brody & Dovi Aizenman from RosewoodRG
The buyer of the property was Frank Forte, representing Lucern Capital, while the seller was Daryl Pittman. The brokers involved in the deal were Jonathan Brody and Dovi Aizenman from RosewoodRG.
Players
BROKERAGE
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$544,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$36,238.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$48,353.20
Annual Debt Service$580,238.45
Is there something missing? Send suggestions