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325 South Center Street, Co...

Wickenden Partners Acquires Memphis Multifamily For $4.5M
SOLDMultiFamily

Wickenden Partners Acquires Memphis Multifamily For $4.5M

325 South Center Street, Collierville, Tennessee 38017, United States

$4,500,000

Building Size

Asset Type

MultiFamily

Closing

May 9, 2022

AI

The multifamily property located at 325 S. Center St. in Memphis, TN has been sold in a recent transaction. The sale took place on 05/10/2022, with Wickenden Partners represented by Cyrus Mojdehi & Danny Hirschberg as buyers. The seller in this transaction was Daniel Quinn. Lea Helig acted as the broker for the deal.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,500,000
  • Units: 40
  • Price per Unit: $112,500
  • Square Footage: 34,000
  • Price per Square Foot: $132

The buyers of the property, Wickenden Partners, were represented by Cyrus Mojdehi & Danny Hirschberg. On the other hand, the seller in this transaction was Daniel Quinn. The deal was facilitated by broker Lea Helig.

Players

Dov Jeremias

Meridian Capital Group

Broker

$260.5M

vol

8 deals

Broker
Cyrus Mojdehi

Cyrus Mojdehi

Wickenden Partners

Buyer

$43.8M

vol

6 deals

Buyer
Ready Capital
Ready CapitalLender

Collierville 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

3.53%

Cash-on-Cash

-1.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93