Updated Oct 25, 2024
Katchis Family Acquires MultiFamily Property In Prospect Heights For $1.825M
457 Park Place
$1,825,000
$213/SF
Building Size
8,560 SF
Asset Type
MultiFamily
Closing
Mar 9, 2023
About this deal
AI
The multi-family property located at 457 Park Place in Prospect Heights has been sold for a price of $1,825,000. The property consists of 8 units, with each unit having a price per unit (PPU) of $228,125. The total square footage of the property is 8,560, resulting in a price per square foot (PPSF) of $213.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,825,000
- Units: 8
- PPU: $228,125
- Square Footage: 8,560
- PPSF: $213
The buyer of this property is the Katchis Family, while the seller is the Jones Family. The transaction was facilitated by the brokers Bobby Lawrence and Jack Murphy from B6 Real Estate Advisors.
Players
Market 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
8.69%
Cash-on-Cash
-2.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93