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Enterprise Community Development, Inc Acquires Coralain Gardens Affordable Apartments In Fairfax County For $21.7M
SOLD
$21,700,000
Virginia
See Similar DealsMultiFamily
Sold 01/03/2024
SOLD
Enterprise Community Development, Inc Acquires Coralain Gardens Affordable Apartments In Fairfax County For $21.7M
7435 Arlington Boulevard
See Similar DealsMultiFamily
Sold 01/03/2024
Summary
VIRGINIA
Asset Type:MultiFamily
Transaction Type:Sale
Enterprise Community Development, Inc. has acquired Coralain Gardens, a 106-unit affordable apartment community located at 7435 Arlington Boulevard in Falls Church, VA. The multifamily property was sold for $21.7 million.
Summary of Transaction Details:
- Property Type: Multifamily
- Transaction Amount: $21,700,000
- Address: 7435 Arlington Boulevard, Falls Church, VA
- Market: Falls Church, VA
Christine Madigan from Enterprise Community Development, Inc. represented the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,157,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$77,095.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$102,869.07
Annual Debt Service$1,234,428.85
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