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Auslander Capital Acquires Multifamily Property In Kannapolis, NC For $2.6M

Property Image
SOLD
$2,565,000
Audley Clarke
Andrew (AJ) Hyans
Samuel (Sam) Finkler

North Carolina

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MultiFamily30,000 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Auslander Capital Acquires Multifamily Property In Kannapolis, NC For $2.6M

1450 Nottingham Rd, Kannapolis, North Carolina 28081, United States

See Similar Deals
MultiFamily30,000 SF
Sold
Audley Clarke
Andrew (AJ) Hyans
Samuel (Sam) Finkler
the dealplayerscompscontact
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Summary

NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$85
Total Square Footage:30000 SF
Transaction Type:Sale

An undisclosed multifamily property located at 4122-1450 Nottingham Road and 1460-1499 Sherwood Drive in Kannapolis, NC, has been sold for a total price of $2,565,000. The property spans across approximately 30,000 square feet, resulting in a price per square foot of $86.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,565,000

Auslander Capital has acquired the property.

The sale was facilitated by Samuel Finkler, Audley Clarke, and Andrew Hyans from TrueRate acting as the brokers representing the buyer in the deal.

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: 11/01/2022 ADDRESS: 4122-1450 Nottingham Road & 1460-1499 Sherwood Drive MARKET: Kannapolis, NC ASSET TYPE: Multifamily BUYER: Auslander Capital BROKERS: Samuel Finkler (@sam_finkler), Audley Clarke (@theaudleyclarke) & Andrew Hyans (@ajhyans) - TrueRate (@TrueRate.Co) SALE PRICE: $2,565,000 SF: 30,000 ~ PPSF: $86

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$136,800.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,112.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,159.41
Annual Debt Service$145,912.90