Jason Tuvia Of Marcus & Millichap Represents Buyer In $2.075M Sale Of Multifamily In Winnetka
7353 Corbin Avenue
$2,075,000
$199/SF
Building Size
10,390 SF
Asset Type
MultiFamily
Closing
Aug 22, 2024
AI
A 10-unit multifamily property located at 7353 Corbin Avenue in Winnetka was sold for $2,075,000. The property encompasses 10,390 square feet and is situated on 0.26 acres, with a price per unit of $207,500 and a price per square foot of $200.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,075,000
- Units: 10
- Square Footage: 10,390
- Price per Unit: $207,500
- Price per Square Foot: $200
- Address: 7353 Corbin Avenue
- Market: Winnetka
- Buyer's Representative: Jason Tuvia - Marcus & Millichap
- Seller's Representative: Michael A. Salerno - Lee & Associates
The transaction reflects the efforts of Jason Tuvia of Marcus & Millichap, representing the buyer, and Michael A. Salerno of Lee & Associates, who represented the seller. The property presents significant rental upside due to below-market rents and includes an assumable 4% loan.
Players
Winnetka MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.64%
Cash-on-Cash
-2.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93