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Aquila Acquires Thompson Place Apartments In Charlotte Multifamily Sale
SOLD
$8,350,000
North Carolina
See Similar DealsMultiFamily
Sold 08/14/2023
SOLD
Aquila Acquires Thompson Place Apartments In Charlotte Multifamily Sale
322 Clarence Street
See Similar DealsMultiFamily
Sold 08/14/2023
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property known as Thompson Place Apartments in Charlotte, NC has been sold for $8.35 million. The apartment community, located on the city's west side, was purchased by Aquila Multifamily from Lucern Capital Partners. The property consists of 65 units and the per unit price comes out to $128,462.
Summary of Transaction Details
- Property Type: Multifamily
- Sale Price: $8,350,000
- Address: 322 Clarence Street, Charlotte, NC
- Market: Charlotte, NC
- Buyer: Aquila Multifamily
- Seller: Frank Forte, Mark Callazzo & David Hansel - Lucern Capital Partners
Aquila Multifamily has successfully acquired the Thompson Place Apartments in Charlotte. The sale was made from Lucern Capital Partners for a total of $8.35 million. This multifamily property, located on the west side of the city, offers 65 units at a price of $128,462 per unit.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$445,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,665.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,583.26
Annual Debt Service$474,999.12
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