Updated Oct 28, 2024
Langdon Park Capital Acquires 304-Unit Multifamily Property In Fort Washington, MD
2428 Corning Avenue, Fort Washington, Maryland 20744, United States
$63,200,000
Units
304
Asset Type
MultiFamily
Closing
Jun 14, 2022
About this deal
AI
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.
On the Map
$63,200,000
MultiFamily
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Fort Washington 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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93