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4630 Central Avenue

Ascent Housing Acquires Woodford Estates Multifamily Community In Charlotte For $30.2 Million
SOLDMultiFamily

Ascent Housing Acquires Woodford Estates Multifamily Community In Charlotte For $30.2 Million

4630 Central Avenue

$30,200,000

Units

228

Asset Type

MultiFamily

Closing

Jun 5, 2025

AI

The multifamily asset involved in the transaction is the Woodford Estates community, located at 4630 Central Avenue, Charlotte, NC. It consists of 228 units, with a price per unit of $132,456, leading to a total sale price of $30,200,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $30,200,000
  • Buyer: Ascent Housing
  • Seller: Michael I. Katz - Dasmen Residential
  • Units: 228
  • PPU: $132,456

The transaction was facilitated with financing supported by Newmark, the city of Charlotte, and Mecklenburg County through three permanent loans, highlighting the collaborative effort in securing the required funding for this acquisition.

Players

DR
Dasmen ResidentialBrokerage
AH
Ascent HousingBuyer
DR
Dasmen ResidentialSeller

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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93