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

Property Image
SOLD
$1,600,000
Audley Clarke
Andrew (AJ) Hyans
Samuel (Sam) Finkler

North Carolina

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MultiFamily22,896 SF
Sold 11/03/2022
the dealplayerscompscontact
Property Image
SOLD

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

2909 Burgess Drive & 2917 Burgess Drive

See Similar Deals
MultiFamily22,896 SF
Sold 11/03/2022
Audley Clarke
Andrew (AJ) Hyans
Samuel (Sam) Finkler
the dealplayerscompscontact
Contact now

Summary

NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$69
Total Square Footage:22,896 SF
Transaction Type:Sale

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 (Sam) Finkler
Besen Partners
Samuel Finkler
33 deals$151.1M volume(973) 870-2916
BROKER
Audley Clarke
TrueRate Services
Audley Clarke
8 deals$64.9M volume
BROKER
Andrew (AJ) Hyans
TrueRate Services
Andrew Hyans
9 deals$67.3M volume
BROKER

Details

SOLD
IMAGE: Samuel Finkler, Audley Clarke & Andrew Hyans DATE: 11/03/2022 ADDRESS: 2909 & 2917 Burgess Drive MARKET: Charlotte, NC ASSET TYPE: Multifamily BUYER: Harvest Properties Group BROKERS: Samuel Finkler (@Sam_Finkler), Audley Clarke (@TheAudleyClarke) & Andrew Hyans (@AJHyans) - TrueRate Investment Sales SALE PRICE: $1,600,000 SF: 11,448 ~ PPSF: $140

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
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