Razor Capital Group Sells Multifamily Asset In Melrose Park For $6.6 Million
SOLD
$6,600,000
Illinois
See Similar DealsMultiFamily53,740 SF
Sold 01/02/2025
SOLD
Razor Capital Group Sells Multifamily Asset In Melrose Park For $6.6 Million
Vinan Drive
See Similar DealsMultiFamily53,740 SF
Sold 01/02/2025
Summary
ILLINOIS
Asset Type:MultiFamily
Price Per Square Foot:$122
Total Square Footage:53,740 SF
Transaction Type:Sale
A multifamily property located at 2901-2912 Vinan Dr & 2901-2907 Willens Dr in Melrose Park, IL, was sold for $6,600,000. The asset contains a total of 64 units, with a price per unit of $103,125.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,600,000
- Units: 64
- Price per Unit: $103,125
- Seller: Razor Capital Group
- Market: Melrose Park, IL
- Brokers: Radina Dimova, John George & Joe Bianchi - Kiser Group
The transaction involved Razor Capital Group as the seller and was represented by brokers Radina Dimova, John George, and Joe Bianchi from Kiser Group. The deal concluded on January 2, 2025.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$352,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$23,448.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$31,287.37
Annual Debt Service$375,448.41
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