SOLDMultiFamily
Enterprise Community Development, Inc Acquires Coralain Gardens Affordable Apartments In Fairfax County For $21.7M
7435 Arlington Boulevard
$21,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 3, 2024
AI
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.
Falls Church MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.73%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93