West 300 North Associates, LLC Acquires 230-Unit Multifamily Property In Richmond, VA For $76.5M
SOLD
$76,500,000
+ 1
Virginia
See Similar DealsMultiFamily
Sold 09/08/2022
SOLD
West 300 North Associates, LLC Acquires 230-Unit Multifamily Property In Richmond, VA For $76.5M
2517 West Tremont Court, Richmond, Virginia 23225, United States
See Similar DealsMultiFamily
Sold 09/08/2022
+ 1
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 2517 W Tremont Ct in Richmond, VA has been sold for a total price of $76,500,000. The property consists of 230 units, resulting in a price per unit of $332,609.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $76,500,000
- Address: 2517 W Tremont Ct, Richmond, VA
- Market: Richmond, VA
The buyer of the property is West 300 North Associates, LLC, while the seller is Stratford Bethany, LLC. The deal was facilitated by Garrison Gore, Charles Wentworth, G.S. Hankins, and Victoria Pickett from Colliers.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$4,080,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$271,788.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$362,649.03
Annual Debt Service$4,351,788.34
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