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NorthEast Private Client Group Sells Willow Park Apartments Multifamily For $5.2M

Property Image
SOLD
$5,200,000
Richard (Rich) Edwards
Jeff Wright

Connecticut

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MultiFamily
Sold 05/13/2024
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Property Image
SOLD

NorthEast Private Client Group Sells Willow Park Apartments Multifamily For $5.2M

113-115 Park Avenue

See Similar Deals
MultiFamily
Sold 05/13/2024
Richard (Rich) Edwards
Jeff Wright
the dealplayerscompscontact
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Summary

CONNECTICUT
Asset Type:MultiFamily
Transaction Type:Sale

Willow Park Apartments is a 21-unit multifamily complex located at 113-115 Park Avenue in Danbury, CT. The property was sold for $5,200,000, equating to a price per unit of $247,619. Each unit within the complex consists of one bedroom and spans 575 square feet.

Summary of transaction details:

Jeff Wright and Rich Edwards of NorthEast Private Client Group played vital roles in the transaction, representing both the undisclosed seller and buyer. Northeast Private Client Group (NEPCG) facilitated the deal, ensuring a successful transaction for Willow Park Apartments in Danbury, Connecticut.

Players

Jeff Wright
NorthEast Private Client Group
Jeff Wright
30 deals$138.9M volume
BROKER
Richard (Rich) Edwards
NorthEast Private Client Group
Richard Edwards
30 deals$150.9M volume
BROKER

Details

SOLD
IMAGE: 05/13/2024 ADDRESS: 113-115 Park Avenue MARKET: Danbury, CT ASSET TYPE: Multifamily BROKERS: Jeff Wright & Richard Edwards - NorthEast Private Client Group SALE PRICE: $5,200,000 UNITS: 21 ~ PPU: $247,619 NOTE: Northeast Private Client Group (NEPCG) facilitated the $5.2 million sale of Willow Park Apartments, a 21-unit multifamily complex in Danbury, Connecticut, exclusively featuring one-bedroom units spanning 575 square feet. Jeff Wright and Rich Edwards of NEPCG represented both the undisclosed seller and buyer in the transaction.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$277,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$18,474.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,650.65
Annual Debt Service$295,807.83