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Western Wealth Capital Acquires Multifamily Property In Phoenix For $76M

Property Image
SOLD
$76,000,000

Texas

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MultiFamily
Sold 11/09/2021
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Property Image
SOLD

Western Wealth Capital Acquires Multifamily Property In Phoenix For $76M

1350 East North Avenue, Lampasas, TX 76550, USA

See Similar Deals
MultiFamily
Sold 11/09/2021
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 1350 E Northern Ave in Phoenix, AZ has been sold for a price of $76,000,000. The transaction took place on 11/09/2021 and involved 300 units, with a price per unit of $253,333. The buyer of the property was Western Wealth Capital represented by Janet Lepage, while the seller was Jevan Capital. The deal was facilitated by Cliff David from Institutional Property Advisors - Marcus & Millichap.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $76,000,000
  • Units: 300
  • Price per Unit: $253,333
  • Buyer: Western Wealth Capital - Janet Lepage
  • Seller: Jevan Capital
  • Broker: Cliff David - Institutional Property Advisors - Marcus & Millichap

Cliff David, representing Institutional Property Advisors - Marcus & Millichap, played a key role in facilitating the sale of the multifamily property at 1350 E Northern Ave in Phoenix, AZ. Janet Lepage represented the buyer, Western Wealth Capital, in this transaction. The seller of the property was Jevan Capital. The sale price of $76,000,000 and the details of the property, including its 300 units and price per unit of $253,333, were factors that contributed to the successful completion of this deal.

Players

Cliff David
36 deals$2.3B volume
BROKER

Janet Lepage
Western Wealth Capital
4 deals$140M volume
BUYER

Details

SOLD
IMAGE: Cliff David & Janet Lepage DATE: 11/09/2021 ADDRESS: 1350 E Northern Ave MARKET: Phoenix, AZ ASSET TYPE: Multifamily BUYER: Western Wealth Capital - Janet Lepage SELLER: Jevan Capital BROKER: Cliff David - Institutional Property Advisors - Marcus & Millichap SALE PRICE: $76,000,000 UNITS: 300 ~ PPU: $253,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$4,053,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$270,011.96
Cash-on-Cash Return-1.27%
Monthly Debt Service$360,278.77
Annual Debt Service$4,323,345.28