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The Heneveld Group LLC Sells Norfolk Multifamily Property For $1.6M With Clark Simpson As The Broker
SOLD
$1,600,000
Virginia
See Similar DealsMultiFamily
Sold 12/16/2024
SOLD
The Heneveld Group LLC Sells Norfolk Multifamily Property For $1.6M With Clark Simpson As The Broker
1976 East Ocean View Avenue
See Similar DealsMultiFamily
Sold 12/16/2024
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
The property involved in the transaction is a multifamily asset located at 1976 East Ocean View Avenue in Norfolk, VA. The sale was executed for a price of $1,600,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,600,000
- Seller: The Heneveld Group, LLC.
- Broker: Clark Simpson - Cushman & Wakefield
- Sale Date: 12/16/2024
The transaction was facilitated by Clark Simpson, who represented The Heneveld Group, LLC in the sale as part of a 1031 exchange to an out-of-town buyer.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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