Updated Oct 28, 2024
Carnation Street Ventures LLC Acquires Multifamily Property In Philadelphia, PA For $8.08M
6300 Carnation Street, Philadelphia, Pennsylvania 19144, United States
$8,080,000
Units
66
Asset Type
MultiFamily
Closing
Dec 19, 2021
About this deal
AI
Carnation Street Ventures LLC has acquired a multifamily property located at 6300-6342 & 6301-6321 Carnation Street in Philadelphia, PA. The property consists of 66 units and was sold by Arborwood Duplex Associates for a total price of $8,080,000. This translates to a price per unit of $122,605.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,080,000
- Address: 6300-6342 & 6301-6321 Carnation Street, Philadelphia, PA
- Market: Philadelphia, PA
- Buyer: Carnation Street Ventures LLC
- Seller: Arborwood Duplex Associates
- Brokers: Ken Wellar, Corey Lonberger & Mark Duszak - Rittenhouse Realty Advisors
Ken Wellar, Corey Lonberger, and Mark Duszak from Rittenhouse Realty Advisors represented the parties involved in the transaction.
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
1.96%
Cash-on-Cash
-0.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93