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3420 Garrett Road

Connor Woodward Acquires Multifamily In Drexel Hill For $6M
SOLDMultiFamily

Connor Woodward Acquires Multifamily In Drexel Hill For $6M

3420 Garrett Road

$6,000,000

$136/SF

Building Size

43,929 SF

Asset Type

MultiFamily

Closing

Jun 10, 2024

AI

The multifamily property located at 3420 Garrett Road in Drexel Hill, PA, was successfully sold for $6,000,000. The property comprises 57 units with a price per unit of $105,263. The total square footage of the property is 43,929, resulting in a price per square foot of $137.

Summary of transaction details:

Adam Zweibel from Hudson Atlantic Realty represented the seller, Bernard Burkhoff, in this transaction. Connor Woodward was the buyer of the multifamily property located in Drexel Hill. The deal was closed on 06/10/2024.

Players

Adam Zweibel

Hudson Atlantic Realty

Broker

$404.6M

vol

27 deals

Broker

Drexel Hill 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

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93