Ideal Capital Acquires Multifamily Property In Central Coast For $51M
SOLD
$51,000,000
South Carolina
See Similar DealsMultiFamily
Sold 07/30/2020
SOLD
Ideal Capital Acquires Multifamily Property In Central Coast For $51M
3554 Ranch House Road, Central, SC, USA
See Similar DealsMultiFamily
Sold 07/30/2020
Summary
SOUTH CAROLINA
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 3554 Ranch House Road in Central Coast has been sold in a closed transaction. The deal was finalized on July 30, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $51,000,000
- Market: Central Coast
- Units: 105
- Price Per Unit (PPU): $481,904
- Buyer: Ideal Capital
- Seller: WestCreek
- Brokers: Dean Zander, Stew Weston, and Jef Henderson
The property consists of 105 units, and it was sold at a price of $51,000,000. The buyer, Ideal Capital, acquired the property from the seller, WestCreek. The brokers involved in the transaction were Dean Zander, Stew Weston, and Jef Henderson.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,719,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$181,192.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$241,766.02
Annual Debt Service$2,901,192.23
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