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1912 Eastern Avenue Northeast

Private Investor Acquires Eastern Avenue Portfolio In Roanoke For $1.205M
SOLDMultiFamily

Private Investor Acquires Eastern Avenue Portfolio In Roanoke For $1.205M

1912 Eastern Avenue Northeast

$1,205,000

Building Size

Asset Type

MultiFamily

Closing

Mar 5, 2024

AI

The Eastern Avenue portfolio in Roanoke, VA, consisting of seven duplexes, was recently sold for $1,205,000. The properties are conveniently located near downtown Roanoke with easy access to U.S. Route 460.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,205,000
  • Address: 1912 Eastern Avenue Northeast
  • Market: Roanoke, VA

Clay Taylor, CCIM, represented the seller, Eastern Ave Portfolio LLC, in this transaction. The sale was facilitated by Cushman & Wakefield | Thalhimer’s Capital Markets Group. A private investor acquired the properties as part of the Eastern Avenue portfolio.

Players

Clay Taylor

Cushman & Wakefield

Broker

$92.7M

vol

18 deals

Broker

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

13.16%

Cash-on-Cash

-3.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93