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9924 Oakbrook Drive, Charlo...

Beach Real Estate Funds, LLC Acquires Multifamily Property In Charlotte, NC For $39M
SOLDMultiFamily

Beach Real Estate Funds, LLC Acquires Multifamily Property In Charlotte, NC For $39M

9924 Oakbrook Drive, Charlotte, North Carolina 28226, United States

$39,000,000

Building Size

Asset Type

MultiFamily

Closing

Sep 12, 2022

AI

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.

Players

Kevin Kempf

CBRE

Broker

$241.8M

vol

3 deals

Broker

Charlotte MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.41%

Cash-on-Cash

-0.12%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93