AJS Equities Acquires 90-Unit Multifamily Property In Charlotte, NC For $9.7M
SOLD
$9,700,000
North Carolina
See Similar DealsMultiFamily8,016 SF
Sold 10/05/2021
SOLD
AJS Equities Acquires 90-Unit Multifamily Property In Charlotte, NC For $9.7M
5221 Nevin Road, Charlotte, NC, USA
See Similar DealsMultiFamily8,016 SF
Sold 10/05/2021
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$1,210
Total Square Footage:8,016 SF
Transaction Type:Sale
A multifamily property located at 5221 Nevin Road in Charlotte, NC has been sold for a total of $9,700,000. The property spans across 6.33 acres and consists of 90 units, resulting in a per unit price of $107. The transaction took place on October 5, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,700,000
- Address: 5221 Nevin Road, Charlotte, NC
- Market: Charlotte, NC
- Acres: 6.33
- Buyer: AJS Equities - Abe Serouya
- Seller: Peter Oprea
- Broker: Capstone
- Units: 90
- Price Per Unit: $107
The buyer in this transaction was AJS Equities represented by Abe Serouya. The seller of the property was Peter Oprea. The sale was facilitated by Capstone.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$517,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$34,462.07
Cash-on-Cash Return-1.27%
Monthly Debt Service$45,982.95
Annual Debt Service$551,795.38
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