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Montium Acquires 161-Unit Multifamily In Wilmington, DE For $22.7M

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SOLD
$22,700,000
Mark Duszak
Kenneth (Ken) Wellar
+ 1

Delaware

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MultiFamily
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Property Image
SOLD

Montium Acquires 161-Unit Multifamily In Wilmington, DE For $22.7M

3314 Old Capitol Trail, Wilmington, Delaware 19808, United States

See Similar Deals
MultiFamily
Sold
Mark Duszak
Kenneth (Ken) Wellar
+ 1
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Summary

DELAWARE
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily property located at 3314 Old Capitol Trail in Cranston Hall, Wilmington, DE has been sold. The transaction took place on April 27, 2022. The property consists of 161 units, and the sale price was $22,700,000, with a price per unit (PPU) of $140,994.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $22,700,000
  • Date: April 27, 2022
  • Address: 3314 Old Capitol Trail - Cranston Hall, Wilmington, DE
  • Market: Wilmington, DE

The buyer of the property was Montium. Rittenhouse Realty Advisors, represented by Bob DiPasquale, Corey Lonberger, Ken Wellar, and Mark Duszak, served as the brokers involved in the deal.

Players

Kenneth (Ken) Wellar
59 deals$1.3B volume
BROKER

Corey Lonberger
Global Real Estate Advisors (GREA)
34 deals$773.9M volume
BROKER

Mark Duszak
Rittenhouse Realty Advisors
24 deals$534.8M volume
BROKER

Robert "Bob" DiPasquale
Rittenhouse Realty Advisors
3 deals$40.1M volume
BROKER

BUYER

Details

SOLD
IMAGE: Bob DiPasquale, Corey Lonberger, Ken Wellar & Mark Duszak DATE: 04/27/2022 ADDRESS: 3314 Old Capitol Trail - Cranston Hall MARKET: Wilmington, DE ASSET TYPE: Multifamily BUYER: Montium BROKERS: Bob DiPasquale, Corey Lonberger, Ken Wellar (@Ken_Wellar_CRE) & Mark Duszak - Rittenhouse Realty Advisors(@Rittenhouse_Realty_Advisors), (@Grea_CRE) SALE PRICE: $22,700,000 UNITS: 161 ~ PPU: $140,994

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

$1,210,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$80,648.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$107,609.58
Annual Debt Service$1,291,314.97