Updated Oct 28, 2024
Harbor CRE Acquisition I, LLC Acquires Multifamily Properties In Philadelphia, PA For $7.4M, Represented By Ken Wellar & Alan Krawitz - Rittenhouse Realty Advisors
1303 South 6th Street, Philadelphia, Pennsylvania 19147, United States
$7,425,000
$224/SF
Building Size
33,145 SF
Asset Type
MultiFamily
Closing
Dec 13, 2021
About this deal
AI
The multifamily properties located at 307 Pine, 327 Pine, 1303 S 6th Street, and 725, 734, 736, 746 S 4th Street in Philadelphia, PA have been sold in a recent transaction. The sale was finalized on 12/13/2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,425,000
- Units: 34
- Price per Unit: $218,382
- Square Footage: 33,145
- Price per Square Foot: $224
The buyer of these properties was Harbor CRE Acquisition I, LLC, while the seller was Sunset Group LLC. The deal was facilitated by Ken Wellar and Alan Krawitz from Rittenhouse Realty Advisors, who represented the parties involved in the transaction.
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
2.14%
Cash-on-Cash
-0.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93