The Markaretan Family Acquires Clinton Hill Multifamily For $4.6M
SOLD
$4,625,000
Illinois
See Similar DealsMultiFamily7,260 SF
Sold 04/20/2023
SOLD
The Markaretan Family Acquires Clinton Hill Multifamily For $4.6M
481-483 Dekalb Ave
See Similar DealsMultiFamily7,260 SF
Sold 04/20/2023
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$637
Total Square Footage:7,260 SF
Transaction Type:Sale
Located in the Clinton Hill neighborhood, the multifamily property at 481-483 Dekalb Avenue has been sold in a recent transaction. The property consists of 10 units, with a total square footage of 7,260. The sale price for this transaction was $4,625,000, making the price per unit approximately $462,500. The price per square foot stands at $637.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,625,000
- Units: 10
- Price per Unit: $462,500
- Square Footage: 7,260
- Price per Square Foot: $637
- Address: 481-483 Dekalb Avenue
- Market: Clinton Hill
The Markaretan Family has acquired the property, with the deal facilitated by Lev Mavashev and Eli Yusupov from Alpha Realty.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$246,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,431.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,924.86
Annual Debt Service$263,098.31
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