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359 Egmont Avenue

Nicolette Turner Purchases Multifamily Property From Robert Holley In Mount Vernon For $775,000
SOLDMultiFamily

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:

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

Joshua Brown

Pushing Forward Development

Broker

$15.2M

vol

14 deals

Broker

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