HASTA DST Ventures Acquires Multifamily Property In Manassas Park, VA For $55M
SOLD
$55,000,000
Virginia
See Similar DealsMultiFamily43,708 SF
Sold 08/10/2022
SOLD
HASTA DST Ventures Acquires Multifamily Property In Manassas Park, VA For $55M
170 Market St, Manassas Park, Virginia 20111, United States
See Similar DealsMultiFamily43,708 SF
Sold 08/10/2022
Summary
VIRGINIA
Asset Type:MultiFamily
Price Per Square Foot:$1,258
Total Square Footage:43,708 SF
Transaction Type:Sale
The multifamily property located at 170 Market St in Manassas Park, VA has been sold in a recent transaction. The property consists of 291 units with an average price per unit of $189,003. The total square footage of the property is 43,708, with an average price per square foot of $1,258. The sale price for the property was $55,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $55,000,000
- Units: 291
- Price per Unit: $189,003
- Total Square Footage: 43,708
- Price per Square Foot: $1,258
- Address: 170 Market St, Manassas Park, VA
The buyer in this transaction is HASTA DST Ventures, represented by Mark Hafner. Mark Hafner is the buyer's representative in the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,933,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$195,403.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$260,728.06
Annual Debt Service$3,128,736.72
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