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2200 S Avenue B - Lothlorien, Yuma, AZ

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2200 S Avenue B - Lothlorien

Yuma, AZ 85364

(203.7 KB)

Property Type:Multi-Family Number of Units:120 Status:Existing Year Built:1979
Stories:2 Building Size:102,808 SF Land Area:4.48 AC (195,201 SF)
For Sale Price:$7,000,000 Price/Unit:$58,333.33 Cap Rate:6.90 % GRM:-

Parking:2.02 Parking Spaces / 1,000 SF

Lothlorian Apartments consists of 120-unit, garden-style apartment homes in eight, two story buildings. developed in 1979, the property is centrally located near the major intersections of 24th street and Avenue B. Modern units, mature landscaping and attractive curb appeal all add to the charm of the Lothlorian Apartments.

Sale Notes:
Ideal Central Location - Excellent Curb Appeal
Assumable Existing Financing
Individually Metered - 1979 Construction
Seven Fully Furnished Corporate Suites
Superior Unit Mix of Large One, Two and Three-Bedroom Units
Inviting Swimming Pool and Courtyards
2013 Full Asphalt Replacement / 2011 New Roof
Rainmaker LRO Revenue Management Software

Price $7,000,000
Down Payment (47%) $3,302,049
Loan Amount $3,697,951
Loan Type Assumption
Interest Rate/Amortization/Term 5.200%/30 Years/Fixed Rate
Units 120
Price Per Unit $58,333
Rentable SF 102,808
Price Per SF $68.09
Year Built 1979
Lot Size 4.48 Acres
Cap Rate - Current 6.90%
Cap Rate - Pro Forma 7.74%
GRM - Current 7.32
GRM - Pro Forma 7.11
Net Cash Flow After Debt Service - Current 6.84%
Net Cash Flow After Debt Service - Pro Forma 8.62%
Total Return - Current 8.80%
Total Return - Pro Forma 10.58%

Marcus & Millichap Inc
Michael Hubl
(602) 687-6753

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