Acquila Multifamily Acquires MultiFamily Property In Charlotte, NC From Lucern Capital Partners For $8.35M
SOLD
$8,350,000
+ 1
North Carolina
See Similar DealsMultiFamily63,000 SF
Sold 08/10/2023
SOLD
Acquila Multifamily Acquires MultiFamily Property In Charlotte, NC From Lucern Capital Partners For $8.35M
334 Clarence Street
See Similar DealsMultiFamily63,000 SF
Sold 08/10/2023
+ 1
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$132
Total Square Footage:63,000 SF
Transaction Type:Sale
A multifamily property located at 334 Clarence Street in Charlotte, NC has been sold for a transaction amount of $8,350,000. The property consists of 65 units, with an average price per unit of $128,462. Spanning across 63,000 square feet, the property has a price per square foot of $133.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $8,350,000
- Units: 65
- Price per Unit: $128,462
- Square Footage: 63,000
- Price per Square Foot: $133
- Address: 334 Clarence Street, Charlotte, NC
The buyer of the property is Acquila Multifamily, represented by Brock Mergist. Lucern Capital Partners, with representatives Frank Forte, Mark Callazzo, and David Hansel, acted as the seller in the transaction. Ron Corrao, from Capstone Companies, served as the broker for the deal.
For investment opportunities for accredited investors, please contact Lucern Capital Partners at [email protected].
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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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