Dan Holtzman Acquires Multifamily Asset From Hood Development For $1.55M In Chicago
3226 West Potomac Avenue
$1,550,000
$193/SF
Building Size
8,000 SF
Asset Type
MultiFamily
Closing
Nov 18, 2024
AI
The property involved in the transaction is located at 3226 West Potomac Avenue in Chicago. The asset type is multifamily with a total sale price of $1,550,000. There are 7 units within the property, encompassing a square footage of 8,000, resulting in a price per unit of $221,428 and a price per square foot of $193.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Units: 7
- Square Footage: 8,000
- Price Per Unit: $221,428
- Price Per Square Foot: $193
- Buyer: Dan Holtzman
- Seller: Hood Development
- Seller's Representative: Erin Feinerman, Ian Feinerman & Michael Weber Properties
The key individuals involved in the deal include the buyer, Dan Holtzman, and the seller, Hood Development. The seller's representation during the transaction was handled by Erin Feinerman, Ian Feinerman, and Michael Weber from the brokerage firm Michael Weber Properties.
Players
Chicago 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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93