Adam Fortino Of Marcus & Millichap Represents Buyer In Sale Of 516 Kungs Way Joliet For $670,000
516 Kungs Way, Joliet, IL, 60435
$670,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 16, 2019
AI
The property involved in the transaction is a nine-unit apartment located at 516 Kungs Way, Joliet, IL 60435. The apartment building is reported to have sold for $670,000. It consists of one one-bedroom/one-bathroom unit and eight two-bedroom/one-bathroom units. The building is constructed of brick, features on-site laundry facilities, and offers ample off-street parking. The market value is specific to Joliet, Illinois.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $670,000.00
- Address: 516 Kungs Way, Joliet, IL 60435
- Buyer’s Representative: Adam Fortino - Marcus & Millichap
- Buyer: Unknown
- Seller: Unknown
Adam Fortino, a senior associate in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller while representing the buyer in this transaction. The deal was confirmed by Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office.
Players
Joliet MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
23.68%
Cash-on-Cash
-6.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93