Updated Feb 16, 2024
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
$1,950,000
Units
10
Asset Type
Single Family Residence
Closing
Dec 29, 2021
About this deal
AI
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.
On the Map
$1,950,000
Single Family Residence
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Players
Newark Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93