Updated Oct 28, 2024
New England Investment Partners Acquires Multifamily Property In Raleigh, NC For $12M
11700 Arnold Palmer Drive, Raleigh, North Carolina 27617, United States
$12,000,000
Units
96
Asset Type
MultiFamily
Closing
Sep 19, 2022
About this deal
AI
The multifamily property located at 11700 Arnold Palmer Dr in Raleigh, NC has been sold in a recent transaction. The property consists of 96 units and was sold for a total price of $12,000,000, resulting in a per unit price of $125,000. The sale took place on September 20, 2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Units: 96
- Price Per Unit: $125,000
- Address: 11700 Arnold Palmer Dr, Raleigh, NC
- Market: Raleigh, NC
New England Investment Partners acted as the buyer in this transaction, while The Pendergraph Cos. of Raleigh served as the seller.
Players
Raleigh 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93