Alex Mermelstein Purchases Multifamily Asset From Odin Properties For $4.53M In Philadelphia
SOLD
$4,532,500
Pennsylvania
See Similar DealsMultiFamily36,392 SF
Sold 07/24/2025
SOLD
Alex Mermelstein Purchases Multifamily Asset From Odin Properties For $4.53M In Philadelphia
4616 Leiper Street
See Similar DealsMultiFamily36,392 SF
Sold 07/24/2025
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$124
Total Square Footage:36,392 SF
Transaction Type:Sale
The asset involved in this transaction is a multifamily property located at 4616 Leiper Street in Philadelphia. It encompasses a total of 36,392 square feet and consists of 47 units. The sale price for this transaction amounted to $4,532,500, resulting in a price per unit of $96,436 and a price per square foot of $124.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,532,500
- Units: 47
- Square Footage: 36,392
- Price per Unit: $96,436
- Price per Square Foot: $124
- Buyer: Alex Mermelstein
- Seller: Odin Properties
- Brokers: Zeke Rotter & Joe Loonstyn - SCOPE
- Date of Transaction: 07/24/2025
The individuals involved in the transaction include buyer Alex Mermelstein and seller Odin Properties. The transaction was facilitated by brokers Zeke Rotter and Joe Loonstyn from SCOPE, who represented the interests of the parties in this deal.
Players
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$241,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,103.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,486.36
Annual Debt Service$257,836.35
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