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104-20 115th Street

Updated Feb 27, 2026

Meridian Capital Group Negotiates Sale Of 23-Unit Multifamily Property In South Richmond Hill For $2.5M
SOLDMultiFamily

Meridian Capital Group Negotiates Sale Of 23-Unit Multifamily Property In South Richmond Hill For $2.5M

104-20 115th Street

$2,500,000

$139/SF

Building Size

17,986 SF

Asset Type

MultiFamily

Closing

Feb 17, 2026

About this deal

AI

This multifamily asset is located at 104-20 115th Street in the South Richmond Hill market. It was sold for $2,500,000. The property consists of 23 units, with a total square footage of 17,986. The price per unit stands at $108,695, while the price per square foot is $138. It has a Gross Rent Multiplier (GRM) of 5.9x and a capitalization rate of 7.1%. This 100% rent-stabilized property has zero violations and strong collections.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,500,000
  • Units: 23
  • Square Footage: 17,986
  • Price Per Unit: $108,695
  • Price Per Square Foot: $138
  • Gross Rent Multiplier: 5.9x
  • Capitalization Rate: 7.1%
  • Brokers: Amit Doshi, Shallini Mehra & Ryan Delmonte - Meridian Capital Group

Amit Doshi, Shallini Mehra, and Ryan Delmonte from Meridian Capital Group represented the deal for the seller. They facilitated the transaction process, ensuring that the property sale proceeded smoothly.

On the Map

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$2,500,000

$139/SF

MultiFamily

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Players

Shallini Mehra

Meridian Capital Group

Broker

$1.2B

vol

79 deals

Broker
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South Richmond Hill MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $139 per square foot on a published $2.5M for 17,986 square feet (2026).

Visit Ryan Delmonte to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.35%

Cash-on-Cash

-1.81%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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