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Marcus & Millichap Sells Grand Avenue Apartments In Thiensville Wisconsin For $5.75M
SOLD
$5,750,000
Wisconsin
See Similar DealsMultiFamily
Sold 07/30/2024
SOLD
Marcus & Millichap Sells Grand Avenue Apartments In Thiensville Wisconsin For $5.75M
114 Grand Avenue & 120 Grand Avenue
See Similar DealsMultiFamily
Sold 07/30/2024
Summary
WISCONSIN
Asset Type:MultiFamily
Transaction Type:Sale
The Grand Avenue Apartments, a multifamily asset located at 114-120 Grand Avenue in Thiensville, WI, was sold for $5,750,000. This 47-unit property has a per unit price of $122,340 and garnered significant interest due to its advantageous location, good condition, and potential for rental upside.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,750,000
- Units: 47
- Price Per Unit: $122,340
- Sale Date: 07/30/2024
- Market: Thiensville, WI
The transaction was facilitated by brokers Blake Hanlon, Mark Peltin, and Todd Lindblom from Marcus & Millichap, who played a key role in the sale process of the Grand Avenue Apartments.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$306,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$20,428.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$27,257.93
Annual Debt Service$327,095.20
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