Affordable Housing Investment Acquires Multifamily Property In Syracuse & Black River For $11.3M
SOLD
$11,300,000
New York
See Similar DealsMultiFamily55,089 SF
Sold 11/01/2021
SOLD
Affordable Housing Investment Acquires Multifamily Property In Syracuse & Black River For $11.3M
301 Columbus Ave, Syracuse, NY, USA
See Similar DealsMultiFamily55,089 SF
Sold 11/01/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$205
Total Square Footage:55,089 SF
Transaction Type:Sale
A multifamily property located at 301 Columbus Ave. in Syracuse and 120 Stone Dr. in Black River has been sold for a total of $11,300,000. The property consists of 141 units with a total square footage of 55,089. The sale price per square foot was $205, and the price per unit was $80,141. The lot dimensions are 80 ft x 172 ft.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,300,000
- Market: Syracuse & Black River
- Zoning: 006
The sale was brokered by Kyle Shoemaker and Neal Wolf from Affordable Housing Investment.
Please note that no additional information is available.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$602,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$40,146.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,567.76
Annual Debt Service$642,813.18
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