Severn Companies Sells Multifamily Property In Catonsville, MD For $11.3M With Brokers Justin Verner, Tom Wohlgemuth & Brooks Healy - Harbor Stone Advisors
SOLD
$11,300,000
Maryland
See Similar DealsMultiFamily
Sold 08/17/2022
SOLD
Severn Companies Sells Multifamily Property In Catonsville, MD For $11.3M With Brokers Justin Verner, Tom Wohlgemuth & Brooks Healy - Harbor Stone Advisors
128 Nunnery Lane, Catonsville, Maryland 21228, United States
See Similar DealsMultiFamily
Sold 08/17/2022
Summary
MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale
An apartment complex located at 128 Nunnery Lane in Catonsville, MD has been sold for a total price of $11,300,000. The property is a multifamily asset consisting of 99 units, with an average price per unit of $121,505.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,300,000
- Address: 128 Nunnery Lane, Catonsville, MD
- Market: Catonsville, MD
- Seller: Severn Companies
- Brokers: Justin Verner, Tom Wohlgemuth & Brooks Healy - Harbor Stone Advisors
Justin Verner, Tom Wohlgemuth, and Brooks Healy from Harbor Stone Advisors represented the seller, Severn Companies, in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$602,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,146.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,567.76
Annual Debt Service$642,813.18
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