Updated Oct 28, 2024
BH University City Properties Acquires Multifamily Property In Philadelphia For $5.5M
528 North 34th Street, Philadelphia, Pennsylvania 19104, United States
$5,500,000
Units
15
Asset Type
MultiFamily
Closing
Apr 21, 2022
About this deal
AI
Located at 528 N 34th St in Philadelphia, PA, this multifamily property was recently involved in a closed sale transaction. The property consists of 15 units, resulting in a per unit price of $366,667. The sale took place on 04/22/2022, with a final sale price of $5,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Units: 15
- Price Per Unit: $366,667
- Address: 528 N 34th St, Philadelphia, PA
- Market: Philadelphia, PA
The buyer in this transaction was BH University City Properties, while the seller was Drexel Properties. The deal was facilitated by brokers Ken Wellar, Corey Lonberger, Mark Duszak, and Luke DeLuca of Rittenhouse Realty Advisors.
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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93