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Felicity Street Investments Acquires Multifamily Asset From V2 Properties For $3.6M In Philadelphia

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SOLD
$3,600,000

Pennsylvania

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MultiFamily
Sold 12/23/2024
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Property Image
SOLD

Felicity Street Investments Acquires Multifamily Asset From V2 Properties For $3.6M In Philadelphia

2209 North Broad Street

See Similar Deals
MultiFamily
Sold 12/23/2024
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Summary

PENNSYLVANIA
Asset Type:MultiFamily
Transaction Type:Sale

The property asset involved in this transaction is a 21-unit apartment building known as Lofts at Henry Hall, located at 2209 North Broad Street in Philadelphia, PA. The asset was sold for a total of $3,600,000, which results in a price per unit of $171,429.

Summary of transaction details:

This transaction was facilitated by Vince Peruto, who represents V2 Properties as their broker. Vince Peruto played a critical role in procuring the buyer, Felicity Street Investments, for this multifamily asset located in a significant market area.

Players

Vince Peruto
2 deals$5.7M volume(215) 531-7035
BROKER

Details

SOLD
IMAGE: 12/23/2024 ADDRESS: 2209 North Broad Street MARKET: Philadelphia, PA ASSET TYPE: Multifamily BUYER: Felicity Street Investments SELLER: V2 Properties BROKER: Vince Peruto - Marcus & Millichap SALE PRICE: $3,600,000 UNITS: 21 ~ PPU: $171,429 NOTE: V2 Properties sold Lofts at Henry Hall, a 21-unit apartment building at 2209 N. Broad St. in Philadelphia, for $3.6 million. Marcus & Millichap's Vince Peruto represented the seller and procured the buyer, Felicity Street Investments.

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

$192,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,790.04
Cash-on-Cash Return-1.27%
Monthly Debt Service$17,065.84
Annual Debt Service$204,790.04