Updated Oct 28, 2024
Lakeland Capital Acquires 18-Unit Multifamily In Richmond For $3.3M
1140 West Grace Street, Richmond, Virginia 23220, United States
$3,300,000
Units
18
Asset Type
MultiFamily
Closing
Jul 25, 2022
About this deal
AI
The multifamily property located at 1140 West Grace Street in Richmond, VA has been sold. The transaction was completed on 07/26/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,300,000
- Units: 18
- Price per Unit: $183,333
- Address: 1140 West Grace Street, Richmond, VA
- Market: Richmond, VA
Lakeland Capital, LLC purchased the property from Boatwright Investments, LLC. The sale price for the multifamily property was $3,300,000, with a total of 18 units. Each unit was priced at approximately $183,333.
The transaction was facilitated by the brokerage team from Colliers, which included Garrison Gore, Charles Wentworth, G.S. Hankins, and Victoria Pickett. They represented both the buyer, Lakeland Capital, LLC, and the seller, Boatwright Investments, LLC.
On the Map
$3,300,000
MultiFamily
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Players
Richmond 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
4.81%
Cash-on-Cash
-1.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93