Updated Dec 4, 2024
Sweetbay Capital Acquires Mount Pleasant Villas Apartments In Roanoke For $7.25M
1718 Rutrough Road Southeast
$7,250,000
Units
90
Asset Type
MultiFamily
Closing
Dec 1, 2023
About this deal
AI
Sweetbay Capital has acquired Mount Pleasant Villas Apartments, a 90-unit garden-style apartment community in Roanoke, Virginia, for $7.25 million. The property, located at 1718 Rutrough Road Southeast, offers a total of 90 units, with a price per unit of $80,556.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,250,000
- Address: 1718 Rutrough Road Southeast, Roanoke, VA
- Market: Roanoke, VA
- Buyer: Ted Crawford - Sweetbay Capital
- Seller: JC Capital Rutrough, LLC
- Broker: Clay Taylor - Cushman & Wakefield
Ted Crawford, representing Sweetbay Capital, was the buyer in the transaction. Clay Taylor, from Cushman & Wakefield, represented the seller, JC Capital Rutrough, LLC, in this multifamily property sale. The acquisition of Mount Pleasant Villas Apartments enhances Sweetbay Capital's portfolio in the Roanoke market.
On the Map
$7,250,000
MultiFamily
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Roanoke 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
2.19%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93