Colliers International Facilitates $9.4M Multifamily Sale In Petersburg, VA
SOLD
$9,400,000
+ 1
Virginia
See Similar DealsMultiFamily
Sold 10/15/2021
SOLD
Colliers International Facilitates $9.4M Multifamily Sale In Petersburg, VA
420 High Street, Petersburg, VA, USA
See Similar DealsMultiFamily
Sold 10/15/2021
+ 1
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
A multifamily property located at 420, 422, and 526 High Street in Petersburg, VA has been sold for a total price of $9,400,000. The property consists of 69 units, with a price per unit of $136,232.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $9,400,000
- Units: 69
- Price per Unit: $136,232
The seller of the property was Robin & Miller Associates. The sale was facilitated by Garrison Gore, Hank Hankins, Victoria Pickett, and Charles Wentworth from Colliers International.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$501,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$33,396.23
Cash-on-Cash Return-1.27%
Monthly Debt Service$44,560.80
Annual Debt Service$534,729.55
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