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1325 Kent Road

Cedar Group Capital Purchases 1325 Kent Road Multifamily Property In Raleigh For $8.8M
SOLDMultiFamily

Cedar Group Capital Purchases 1325 Kent Road Multifamily Property In Raleigh For $8.8M

1325 Kent Road

$8,800,000

$260/SF

Building Size

33,753 SF

Asset Type

MultiFamily

Closing

Aug 28, 2024

AI

The property asset involved in the transaction is a multifamily building located at 1325 Kent Road in Raleigh, NC. The sale price was $8,800,000, which translates to $137,500 per unit. The property consists of 64 units and has a total square footage of 33,753, equating to a price per square foot of $260.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $8,800,000
  • Units: 64
  • Price per Unit: $137,500
  • Square Footage: 33,753
  • Price per Square Foot: $260
  • Buyer: Cedar Group Capital
  • Seller: Enclave Holdings
  • Buyer's Representative: Joseph Moskowitz - Rosewood Realty Group
  • Seller's Representatives: Steve David & Jacob Vogel - Rosewood Realty Group

The key individuals in this transaction include Joseph Moskowitz representing the buyer, Cedar Group Capital, and the seller, Enclave Holdings, was represented by Steve David and Jacob Vogel, both from Rosewood Realty Group.

Players

Jacob Vogel

Rosewood Realty Group

Broker

$222.9M

vol

7 deals

Broker

Raleigh 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

1.80%

Cash-on-Cash

-0.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93