AC Capital LLC Acquires Multifamily Portfolio In Lynchburg, Virginia For $4.1M
SOLD
$4,100,000
Virginia
See Similar DealsMultiFamily
Sold 10/19/2021
SOLD
AC Capital LLC Acquires Multifamily Portfolio In Lynchburg, Virginia For $4.1M
200 Cleveland Avenue, Lynchburg, VA, USA
See Similar DealsMultiFamily
Sold 10/19/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property transaction took place in Lynchburg, Virginia, involving four properties. The properties include 200 Cleveland Avenue, 3710 Fort Avenue, 681 Leesville Road, and 1609 McVeigh Road. The sale was facilitated by Clay Taylor, Jorge Rosa, and Anthony "TJ" Liberto from Cushman & Wakefield. AC Capital LLC purchased the properties from LP Apartments, LLC for a total price of $4,100,000. The transaction consisted of 55 units, with a price per unit (PPU) of $74,545.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $4,100,000
- Units: 55
- PPU: $74,545
The buyers, AC Capital LLC, acquired the properties from the sellers, LP Apartments, LLC. Clay Taylor, Jorge Rosa, and Anthony "TJ" Liberto represented the parties involved in the transaction as brokers from Cushman & Wakefield.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$218,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$14,566.44
Cash-on-Cash Return-1.27%
Monthly Debt Service$19,436.09
Annual Debt Service$233,233.10
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