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Riverbend Lofts Holdings LLC Acquires 40 Condos From Riverbend Condominiums LLC For $5.25M
SOLD
$5,250,000
+ 1
Wisconsin
See Similar DealsCondo
Sold
SOLD
Riverbend Lofts Holdings LLC Acquires 40 Condos From Riverbend Condominiums LLC For $5.25M
720 South Marquette Street
See Similar DealsCondo
Sold
+ 1
Summary
WISCONSIN
Asset Type:Condo
Transaction Type:Sale
The property involved in this transaction is a 40-unit condo located at 720 South Marquette Street in Racine, WI. The transaction occurred for a total amount of $5,250,000, resulting in a price per unit of $131,250.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $5,250,000
- Units: 40
- Buyer: Riverbend Lofts Holdings, LLC
- Seller: Riverbend Condominiums LLC
- Brokers: Matson Holbrook, Gretchen Richards, Sean Beuche & Patrick Gallagher - CBRE
- Sale Date: 02/26/2026
CBRE facilitated the transaction, representing the interests of both the buyer and seller during the sale. Riverbend Lofts Holdings, LLC acquired the rental condo units from Riverbend Condominiums LLC in this closed deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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