Adam Fortino Of Marcus & Millichap Represents Buyer In Sale Of 516 Kungs Way Joliet For $670,000
SOLD
$670,000
Illinois
See Similar DealsMultiFamily
Sold 08/16/2019
SOLD
Adam Fortino Of Marcus & Millichap Represents Buyer In Sale Of 516 Kungs Way Joliet For $670,000
516 Kungs Way, Joliet, IL, 60435
See Similar DealsMultiFamily
Sold 08/16/2019
Summary
ILLINOIS
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$35,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$2,380.38
Cash-on-Cash Return-1.27%
Monthly Debt Service$3,176.14
Annual Debt Service$38,113.70
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