Private Apartment Owner Acquires 29-Unit Multifamily Property In Spring Valley For $3.4M
15 West Funston Avenue
$3,400,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 8, 2023
AI
A private apartment owner has acquired a 29-unit multifamily property located at 15 West Funston Avenue in Spring Valley, New York. The property was purchased for a total of $3.4 million in an off-market transaction facilitated by The Kislak Co.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $3,400,000
- Units: 29
- Price Per Unit: $117,241
- Address: 15 West Funston Avenue
- Market: Spring Valley
The buyer was represented by Gregory Koenig from Kislak. The financing for the transaction was provided by TD Bank.
Players
Spring Valley 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
4.67%
Cash-on-Cash
-1.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93