Marcus & Millichap Sells Edgewood Apartments Multifamily Property In Hopewell Virginia For $3.415M
1900 Warren Avenue
$3,415,000
$93/SF
Building Size
36,472 SF
Asset Type
MultiFamily
Closing
Jul 18, 2024
AI
The sale involved a multifamily property located at 1900 Warren Avenue in Hopewell, Virginia. The property, known as Edgewood Apartments, features a total square footage of 36,472 and consists of 48 units. The transaction was completed for a price of $3,415,000, amounting to approximately $94 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,415,000
- Square Footage: 36,472
- Price per Square Foot: $94
- Address: 1900 Warren Avenue
- Market: Hopewell, VA
The brokers facilitating the transaction were Kristina Ermyakina and Marty Zupancic from Marcus & Millichap, reflecting their involvement in the sale of this multifamily asset.
Players
Hopewell 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
4.65%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93