Updated Dec 4, 2024
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
About this deal
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.
On the Map
$6,700,000
$247/SF
MultiFamily
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Players
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