Fairfield Residential Acquires Multifamily Property In Richmond, VA For $25.7M
SOLD
$25,700,000
Virginia
See Similar DealsMultiFamily
Sold 11/03/2022
SOLD
Fairfield Residential Acquires Multifamily Property In Richmond, VA For $25.7M
1620 North Hamilton Street, Richmond, Virginia 23230, United States
See Similar DealsMultiFamily
Sold 11/03/2022
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 1620 North Hamilton St in Richmond, VA was recently sold in a closed transaction. The property consists of 236 units, and the sale price was reported at $25,700,000, resulting in a per unit price of approximately $108,898.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,700,000
- Address: 1620 North Hamilton St, Richmond, VA
- Market: Richmond, VA
- Buyer: Fairfield Residential
- Seller: United Methodist Family Services
- Broker: Cushman & Wakefield
- Units: 236
- Price Per Unit (PPU): $108,898
Fairfield Residential, a real estate buyer, acquired the property from United Methodist Family Services. The transaction was facilitated by the brokerage firm Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,370,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$91,306.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$121,831.11
Annual Debt Service$1,461,973.34
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