SOLDMultiFamily
The Heneveld Group LLC Sells Norfolk Multifamily Property For $1.6M With Clark Simpson As The Broker
1976 East Ocean View Avenue
$1,600,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 16, 2024
AI
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.
Norfolk 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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93