Colonial Foundry Ventures Acquires West Haven Multifamily For $8.3M
SOLD
$8,300,000
Connecticut
See Similar DealsMultiFamily76,208 SF
Sold 06/18/2020
SOLD
Colonial Foundry Ventures Acquires West Haven Multifamily For $8.3M
842 1st Ave, West Haven, CT, USA
See Similar DealsMultiFamily76,208 SF
Sold 06/18/2020
Summary
CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$108
Total Square Footage:76,208 SF
Transaction Type:Sale
The multifamily property located at 842 1st Ave. in West Haven, CT has been sold in a transaction that was finalized on June 18, 2021. The property, with a total square footage of 76,208, was sold for a price of $8,300,000, resulting in a price per square foot of $109.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $8,300,000
- Address: 842 1st Ave., West Haven, CT
- Market: West Haven, CT
The seller, Foundry Colonial Owner, LLC, sold the property to the buyer, Colonial Foundry Ventures, LLC. The deal was facilitated by brokers Eric Pentore and Wes Klockner from The Nolletti Group at Marcus and Millichap. The transaction involved a total of 69 units, with a price per unit of $120,289.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$442,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$29,488.14
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,346.23
Annual Debt Service$472,154.81
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