Stamm Development Group Sells Multifamily Property In Philadelphia For $19.25M
5801 Ridge Avenue
$19,250,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 1, 2022
AI
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.
Players
Cincinnati MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.82%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93