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:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Buyer: Connor Woodward
- Seller: Bernard Burkhoff
- Broker: Adam Zweibel - Hudson Atlantic Realty
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.
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