Updated Oct 28, 2024
1721-23 Ridge Avenue Multifamily Sold For $4.6M By 1721-23 Ridge LLC And Pelican Hill Partners LLC
1721-23 Ridge Avenue, Philadelphia, Pennsylvania 19130, United States
$4,600,000
Units
15
Asset Type
MultiFamily
Closing
Jan 23, 2022
About this deal
AI
The multifamily property located at 1721-23 Ridge Avenue in Philadelphia, PA has been sold for a price of $4,600,000. The transaction took place on January 24, 2022. The property consists of 15 units, resulting in a per unit price of $306,666.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,600,000
- Address: 1721-23 Ridge Avenue, Philadelphia, PA
- Market: Philadelphia, PA
The buyer of this property was 1721-23 Ridge LLC, while the seller was Pelican Hill Partners LLC. The deal was facilitated by the brokers Ken Wellar, Corey Lonberger, Mark Duszak, and Alan Krawitz from Rittenhouse Realty Advisors.
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
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93