facebook

traded

+ Submit
Home

/

Deals

/

North Carolina

/

Multifamily

/

Sale

/

2909 Burgess Drive

Harvest Properties Group Acquires Multifamily Property In Charlotte, NC For $1.6M
SOLDMultiFamily

Harvest Properties Group Acquires Multifamily Property In Charlotte, NC For $1.6M

2909 Burgess Drive & 2917 Burgess Drive

$1,600,000

$69/SF

Building Size

22,896 SF

Asset Type

MultiFamily

Closing

Nov 3, 2022

AI

The multifamily property located at 2909 & 2917 Burgess Drive in Charlotte, NC has been sold for a total price of $1,600,000. The property spans across 11,448 square feet, resulting in a price per square foot of $140.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Address: 2909 & 2917 Burgess Drive, Charlotte, NC
  • Square Footage: 11,448
  • Price per Square Foot: $140

The buyer of the property is Harvest Properties Group. The deal was facilitated by the brokers Samuel Finkler, Audley Clarke, and Andrew Hyans from TrueRate Investment Sales.

Players

Samuel Finkler

Besen Partners

Broker

$151.1M

vol

33 deals

Broker

Charlotte MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93