Updated Dec 4, 2024
Young Lee & Min Hyoung Cho Close $2.4M Multifamily Deal In Ridgefield
1025 Hoyt Avenue & 27 Hoyt Avenue
$2,425,000
Units
12
Asset Type
MultiFamily
Closing
Apr 29, 2024
About this deal
AI
1025-27 Hoyt Avenue, a multifamily property in Ridgefield, was sold for $2,425,000. The transaction involved two separate buildings that were sold as a package deal, totaling 12 units with amenities like garages and parking spaces. The property is conveniently located near major highways.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,425,000
- Address: 1025-27 Hoyt Avenue
- Market: Ridgefield
- Units: 12
- Price Per Unit: $202,083
Young Lee of Session Real Estate represented the buyer, and Min Hyoung Cho of 2Win Realty represented the seller in the transaction of 1025-27 Hoyt Avenue. The deal was successfully facilitated through their expertise in the real estate market.
Players
Ridgefield 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
6.54%
Cash-on-Cash
-1.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93