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Private Investor Acquires Eastern Avenue Portfolio In Roanoke For $1.205M
SOLD
$1,205,000
Virginia
See Similar DealsMultiFamily
Sold 03/05/2024
SOLD
Private Investor Acquires Eastern Avenue Portfolio In Roanoke For $1.205M
1912 Eastern Avenue Northeast
See Similar DealsMultiFamily
Sold 03/05/2024
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,266.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,281.10
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,712.31
Annual Debt Service$68,547.78
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