Updated Oct 28, 2024
FCP Acquires Multifamily Property In Raleigh, NC For $48M With Buyer's Rep Michael Errichetti & Broker Howard Jenkins
2419 Wycliff Road, Raleigh, North Carolina 27607, United States
$48,000,000
Units
297
Asset Type
MultiFamily
Closing
Oct 5, 2022
About this deal
AI
2419 Wycliff Rd in Raleigh, NC has been sold in a closed multifamily transaction. The property consists of 297 units and was sold for a total price of $48,000,000, resulting in an average price per unit of $161,616.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $48,000,000
- Units: 297
- Price per Unit: $161,616
The buyer for this transaction was FCP, represented by Michael Errichetti. Howard Jenkins of CBRE acted as the broker in this deal.
The multifamily sale at 2419 Wycliff Road, Raleigh, North Carolina 27607, United States in Raleigh, North Carolina sold for $48M in 2022. Reported inventory is 297 units across 297 units. Howard Jenkins, Michael Errichetti, CBRE appear on the sale alongside CBRE. This page is the Raleigh, North Carolina file for the 2419 Wycliff Road, Raleigh, North Carolina 27607, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Raleigh sit in the Market section below. Filter that Raleigh multifamily set by closing date to see what else sold near 2419 Wycliff Road, Raleigh, North Carolina 27607, United States around 2022. Published consideration for 2419 Wycliff Road, Raleigh, North Carolina 27607, United States is $48M, dated 2022. Cite this FCP Acquires Multifamily Property In Raleigh, NC For $48M With Buyer's Rep Michael Errichetti & Broker Howard Jenkins sale when underwriting similar multifamily product around Raleigh, North Carolina.
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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93