Stamm Development Group Sells Multifamily Property In Philadelphia For $19.25M
SOLD
$19,250,000
+ 1
MultiFamily
Sold
SOLD
Stamm Development Group Sells Multifamily Property In Philadelphia For $19.25M
5801 Ridge Avenue
See Similar DealsMultiFamily
Sold
+ 1
Summary
OHIO
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property located at 5801 Ridge Avenue in Philadelphia has been sold in a closed transaction. The property consists of 59 units and was sold for a price of $19,250,000, resulting in a per unit price of $326,271.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $19,250,000
- Address: 5801 Ridge Avenue
- Market: Philadelphia
The sale was facilitated by Stamm Development Group, with Michael Stamm representing the seller. The brokerage team from GREA - Rittenhouse Realty Advisors, consisting of Kenneth (Ken) Wellar, Corey Lonberger, and Mark Duszak, represented the seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,026,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$68,391.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$91,254.82
Annual Debt Service$1,095,057.85
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