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Riverwards Group Sells Kensington/Fishtown Multifamily For $21.3M With Agent PHL - Compass Commercial Broker

Property Image
SOLD
$21,338,000

Pennsylvania

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MultiFamily90,000 SF
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SOLD

Riverwards Group Sells Kensington/Fishtown Multifamily For $21.3M With Agent PHL - Compass Commercial Broker

2035 East Lehigh Avenue, Philadelphia, Pennsylvania 19125, United States

See Similar Deals
MultiFamily90,000 SF
Sold 05/27/2022
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Summary

PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$237
Total Square Footage:90,000 SF
Transaction Type:Sale

The multifamily property located at 2035 E. Lehigh Ave. in Kensington/Fishtown has been sold for a total price of $21,338,000. This transaction was facilitated by Riverwards Group who acted as the seller. The property consists of 75 units, with an average price per unit of $284,506. The total area of the property is 90,000 square feet, resulting in a price per square foot of $237.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $21,338,000
  • Address: 2035 E. Lehigh Ave.
  • Market: Kensington/Fishtown
  • Seller: Riverwards Group
  • Broker: Agent PHL - Compass Commercial
  • Units: 75
  • Price Per Unit: $284,506
  • Total Area: 90,000 square feet
  • Price Per Square Foot: $237

The seller, Riverwards Group, played a key role in this transaction. The broker representing the seller was Agent PHL from Compass Commercial. With a successful sale, this multifamily property can now offer new opportunities for its new owners.

Players

Ryan McManus
Ryan McManus
13 deals$66.4M volume(610) 606-1095
BROKER

Details

SOLD
IMAGE: Ryan McManus (@AgentPhl) DATE: 05/27/2022 ADDRESS: 2035 E. Lehigh Ave. MARKET: Kensington/Fishtown ASSET TYPE: Multifamily SELLER: Riverwards Group BROKER: Agent PHL (@AgentPhl)- Compass Commercial (@CompassCommercialNYC) SALE PRICE: $21,338,000 UNITS: 75 ~ PPU: $284,506 SF: 90,000 ~ PPSF: $237

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,138,026.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$75,809.40
Cash-on-Cash Return-1.27%
Monthly Debt Service$101,153.01
Annual Debt Service$1,213,836.07