Updated Oct 28, 2024
Orchard Court Apartments LLC Acquires 156-Unit Multifamily Property In Pennsville For $16M
1000 Carroll Ave, Pennsville Township, NJ, USA
$16,000,000
$20,000/SF
Building Size
800 SF
Asset Type
MultiFamily
Closing
Oct 26, 2021
About this deal
AI
The multifamily property located at 1000 Carroll Ave in Pennsville has been sold in a recent transaction. The property spans across 14.2 acres and is situated in the Pennsville market. The deal was completed on October 26, 2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Address: 1000 Carroll Ave
- Market: Pennsville
- Asset Type: Multifamily
- Acres: 14.2
The buyer of the property is Orchard Court Apartments LLC. They acquired the property from the seller, Kamson Corp. The deal was facilitated by brokers Barry Waisbrod, Jason Pucci, and Justin Lupo, who represented both the buyer and the seller. The brokers work at The Kislak Co.
The transaction involved a total of 156 units, and the price per unit (PPU) was $102,564.
Players
Pennsville 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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93