Iconic Investments is to present announce the sale of the Middleton Apartments -- located at 2255 W. 14th Street. The property closed escrow at $3,350,000 which equates to $115,517 per unit, 3.75% Cap Rate, and $204 per square foot. Seller offered financing at 75% loan-to-value for seven years.
# of Offers: 5 Offers
# of Property Tours: 13 Groups
Range of Offers: $2.8 to $3.350 Million
Highlights:
Sold at $3,350,000 - 3.75% CAP Rate
All Studios - Master Metered for Gas/Electric
Seller Financing at 70% LTV for 7-years
