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1519 Ridge Avenue

Ryan McManus Facilitates $6.7M Sale Of Multifamily Property In Philadelphia, PA
SOLDMultiFamily

Ryan McManus Facilitates $6.7M Sale Of Multifamily Property In Philadelphia, PA

1519 Ridge Avenue

$6,700,000

$247/SF

Building Size

27,066 SF

Asset Type

MultiFamily

Closing

Apr 9, 2024

AI

The multifamily property located at 1519 Ridge Avenue in Philadelphia, PA, was recently sold for $6,700,000. The asset boasts 19 units with a price per unit of $352,632. The total square footage of the property is 27,066, equating to a price per square foot of $248.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,700,000
  • Units: 19
  • Price Per Unit: $352,632
  • Square Footage: 27,066
  • Price Per Square Foot: $248
  • Address: 1519 Ridge Avenue, Philadelphia, PA

The sale of this multifamily property was facilitated by Ryan McManus from Compass. Ryan McManus represented one of the parties involved in the transaction, showcasing his expertise and role as a real estate broker in the Philadelphia market.

Players

Ryan McManus

Agent PHL

Broker

$66.4M

vol

13 deals

Broker

Philadelphia 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

2.37%

Cash-on-Cash

-0.68%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93