Leverage Capital Provides $1.95M Rental Loan For 10-Unit Residential Property In Newark, NJ
SOLD
$1,950,000
New Jersey
See Similar DealsSingle Family Residence
Sold 12/30/2021
SOLD
Leverage Capital Provides $1.95M Rental Loan For 10-Unit Residential Property In Newark, NJ
164-168 Elm Street, Newark, New Jersey 07105, United States
See Similar DealsSingle Family Residence
Sold 12/30/2021
Summary
NEW JERSEY
Asset Type:Single Family Residence
Transaction Type:Sale
A residential property located at 164-168 Elm St in Newark, NJ, has been involved in a recent closed transaction. The property is a single-family home with 10 residential units.
Summary of transaction details
- Property Type: SFR (10 Residential Unit)
- Transaction Amount: $1,950,000
- Loan Type: Rental
- Loan Terms: 75% LTV, Rate 4.55, 30 Year Fixed
- Lender: Leverage Capital
- Landlord: Mahir Allan
- Brokers: Eric Panecki & Veronique Hut - Leverage Capital
The financing for this transaction was provided by Leverage Capital. The loan amount was $1,950,000, with a loan-to-value ratio of 75%. The loan type was rental, with a fixed interest rate of 4.55% for a 30-year term.
The landlord involved in this deal is Mahir Allan. The brokers representing the transaction were Eric Panecki and Veronique Hut from Leverage Capital.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$103,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,927.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,243.99
Annual Debt Service$110,927.94
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