1721-23 Ridge Avenue Multifamily Sold For $4.6M By 1721-23 Ridge LLC And Pelican Hill Partners LLC
SOLD
$4,600,000
+ 1
Pennsylvania
See Similar DealsMultiFamily
Sold 01/24/2022
SOLD
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
See Similar DealsMultiFamily
Sold 01/24/2022
+ 1
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$245,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,342.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,806.35
Annual Debt Service$261,676.16
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