Beach Real Estate Funds, LLC Acquires Multifamily Property In Charlotte, NC For $39M
SOLD
$39,000,000
+ 4
North Carolina
See Similar DealsMultiFamily
Sold 09/13/2022
SOLD
Beach Real Estate Funds, LLC Acquires Multifamily Property In Charlotte, NC For $39M
9924 Oakbrook Drive, Charlotte, North Carolina 28226, United States
See Similar DealsMultiFamily
Sold 09/13/2022
+ 4
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 9924 Oakbrook Dr in Charlotte, NC has been sold for a total price of $39,000,000. The property consists of 162 units, with an average price per unit of $240,741.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Address: 9924 Oakbrook Dr, Charlotte, NC
- Market: Charlotte, NC
- Units: 162
- Price Per Unit: $240,741
The buyer of the property is Darby Parker and Niko LeVigne, representing Beach Real Estate Funds, LLC. The seller of the property is Kevin Kempf, Howard Jenkins, Drew Harney, William Yowell, and Emma Sidman, represented by CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,080,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$138,558.76
Cash-on-Cash Return-1.27%
Monthly Debt Service$184,879.90
Annual Debt Service$2,218,558.76
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