Berkadia Brokers Cody Kirkpatrick, Noam Franklin & Chinmay Bhatt Facilitate $33.5M Sale Of 418-Unit Multifamily Property In Salt Lake City, UT
SOLD
$33,500,000
MultiFamily
Sold 10/26/2022
SOLD
Berkadia Brokers Cody Kirkpatrick, Noam Franklin & Chinmay Bhatt Facilitate $33.5M Sale Of 418-Unit Multifamily Property In Salt Lake City, UT
780 North 900 West, Salt Lake City, Utah 84116, United States
See Similar DealsMultiFamily
Sold 10/26/2022
Summary
UTAH
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 780 N 900 West in Salt Lake City, UT has been sold for a total price of $33,500,000. The property consists of 418 units, with an average per unit price of $80,144.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,500,000
- Units: 418
- Average Per Unit Price: $80,144
- Location: 780 N 900 West, Salt Lake City, UT
- Market: Salt Lake City, UT
The sale of the property was facilitated by Cody Kirkpatrick, Noam Franklin, and Chinmay Bhatt from Berkadia. They acted as brokers in the transaction, representing the buyer and the seller.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,786,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$119,018.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$158,807.09
Annual Debt Service$1,905,685.09
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