Global Real Estate Advisors (GREA) Sells Multifamily Property On Cedar Avenue In Philadelphia For $2.1M
SOLD
$2,100,000
Pennsylvania
See Similar DealsMultiFamily16 SF
Sold 01/11/2023
SOLD
Global Real Estate Advisors (GREA) Sells Multifamily Property On Cedar Avenue In Philadelphia For $2.1M
4607-4609 Cedar Avenue
See Similar DealsMultiFamily16 SF
Sold 01/11/2023
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$131,250
Total Square Footage:16 SF
Transaction Type:Sale
The recently closed transaction in Philadelphia involved the sale of a multifamily property located at 4607-4609 Cedar Avenue. This property consists of 16 units and spans across 21,000 square feet. The sale price for this asset was $2,100,000, resulting in a per unit price of $131,250.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,100,000
- Units: 16
- Price Per Unit: $131,250
- Square Footage: 21,000
Kenneth (Ken) Wellar and Alan Krawitz of the Global Real Estate Advisors (GREA) represented the seller in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$112,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,460.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,955.07
Annual Debt Service$119,460.86
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