Langdon Park Capital Acquires 304-Unit Multifamily Property In Fort Washington, MD
SOLD
$63,200,000
Maryland
See Similar DealsMultiFamily
Sold 06/15/2022
SOLD
Langdon Park Capital Acquires 304-Unit Multifamily Property In Fort Washington, MD
2428 Corning Avenue, Fort Washington, Maryland 20744, United States
See Similar DealsMultiFamily
Sold 06/15/2022
Summary
MARYLAND
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 2428 Corning Ave in Fort Washington, MD has been sold. The property consists of 304 units and was sold for a total price of $63,200,000, resulting in a price per unit of $207,895.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $63,200,000
- Date: 06/15/2022
- Address: 2428 Corning Ave, Fort Washington, MD
- Market: Fort Washington, MD
- Buyer: Langdon Park Capital - Malcolm Johnson
- Units: 304
- Price per Unit: $207,895
Langdon Park Capital, represented by Malcolm Johnson, was the buyer in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,370,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$224,536.25
Cash-on-Cash Return-1.27%
Monthly Debt Service$299,600.24
Annual Debt Service$3,595,202.92
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