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
Building Size
—
Asset Type
MultiFamily
Closing
Oct 5, 2022
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.
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