Nicolette Turner Purchases Multifamily Property From Robert Holley In Mount Vernon For $775,000
359 Egmont Avenue
$775,000
$155/SF
Building Size
5,000 SF
Asset Type
MultiFamily
Closing
Aug 27, 2024
AI
The property involved in this transaction is a multifamily asset located at 359 Egmont Avenue in the Mount Vernon market. The sale price settled at $775,000, which corresponds to a price per unit of $387,500, based on the 2 units available. The total square footage of the property is 5,000, yielding a price per square foot of $155.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $775,000
- Units: 2
- Price Per Unit: $387,500
- Square Footage: 5,000
- Price Per Square Foot: $155
- Buyer: Nicolette Turner
- Seller: Robert Holley
- Broker Representatives: Joshua Brown, Rayshaun Addison & Matthew Manswell - Pushing Forward Realty
The buyer, Nicolette Turner, completed the transaction with the seller, Robert Holley, facilitated by the broker representatives from Pushing Forward Realty, including Joshua Brown, Rayshaun Addison, and Matthew Manswell. Note that Joshua Brown serves as the Principal Broker of Pushing Forward Realty.
Players
Mount Vernon 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
20.47%
Cash-on-Cash
-5.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93