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Linden Property Group Acquires 147-Unit Multifamily In Fredericksburg, VA For $34.3M

Property Image
SOLD
$34,300,000

Virginia

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MultiFamily
Sold 12/22/2022
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Property Image
SOLD

Linden Property Group Acquires 147-Unit Multifamily In Fredericksburg, VA For $34.3M

3500 Goldenfield Lane, Fredericksburg, Virginia 22408, United States

See Similar Deals
MultiFamily
Sold 12/22/2022
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Summary

VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale

3500 Goldenfield Lane, located in Fredericksburg, VA, has been sold in a closed transaction. The asset involved in this sale is a multifamily property, consisting of 147 units. The property was purchased by Linden Property Group for a total sale price of $34,300,000, which translates to an average price per unit of $233,333.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $34,300,000
  • Address: 3500 Goldenfield Lane
  • Market: Fredericksburg, VA
  • Buyer: Linden Property Group
  • Brokers: Wink Ewing, Mike Marshall & Matt Straughan - Northmarq
  • Units: 147
  • Price per Unit: $233,333

The deal was facilitated by Wink Ewing, Mike Marshall, and Matt Straughan from Northmarq, who acted as the brokers for this transaction.

Players

Wink Ewing
4 deals$203.1M volume
BROKER

Michael "Mike" Marshall
NorthMarq
4 deals$203.1M volume
BROKER

Matt Straughan
Berkadia
6 deals$247.4M volume(540) 817-9360
BROKER

BUYER

Details

SOLD
IMAGE: Wink Ewing, Mike Marshall & Matt Straughan DATE: 12/22/2022 ADDRESS: 3500 Goldenfield Lane MARKET: Fredericksburg, VA ASSET TYPE: Multifamily BUYER: Linden Property Group BROKERS: Wink Ewing, Mike Marshall & Matt Straughan - Northmarq SALE PRICE: $34,300,000 UNITS: 147 ~ PPU: $233,333

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,829,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$121,860.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$162,599.50
Annual Debt Service$1,951,193.99