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Marcus & Millichap Sells Mercy Circle Apartments In Hardeeville, SC For $3.15M
SOLD
$3,150,000
South Carolina
See Similar DealsMultiFamily
Sold 01/02/2024
SOLD
Marcus & Millichap Sells Mercy Circle Apartments In Hardeeville, SC For $3.15M
118 Garr Lane
See Similar DealsMultiFamily
Sold 01/02/2024
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
Marcus & Millichap has completed the sale of Mercy Circle Apartments, a 42-unit multifamily community in Hardeeville, South Carolina. The property, located at 118 Garr Lane, was sold for a total price of $3.15 million, with each unit averaging at $75,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,150,000
- Units: 42
- Price Per Unit: $75,000
William Graves, Ryan Lipomi, and Nate McDaniel from Marcus & Millichap served as the brokers representing both the buyer and seller in this transaction. They successfully facilitated the sale of the multifamily community, achieving an average price of $75,000 per unit.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$168,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,191.28
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,932.61
Annual Debt Service$179,191.28
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