Pennside Zeke 717 LLC Acquires Pennside Manor Multifamily In Reading, PA For $5.25M
SOLD
$5,250,000
Pennsylvania
See Similar DealsMultiFamily22,392 SF
Sold 11/16/2021
SOLD
Pennside Zeke 717 LLC Acquires Pennside Manor Multifamily In Reading, PA For $5.25M
717 North 25th Street, Reading, PA, USA
See Similar DealsMultiFamily22,392 SF
Sold 11/16/2021
Summary
PENNSYLVANIA
Asset Type:MultiFamily
Price Per Square Foot:$234
Total Square Footage:22,392 SF
Transaction Type:Sale
Pennside Manor, located at 717 North 25th Street in Reading, PA, has been sold for a total price of $5,250,000. This multifamily property comprises 40 units, resulting in a price per unit of $131,250. The property spans over 22,392 square feet, with a price per square foot of $234.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,250,000
- Address: Pennside Manor, 717 North 25th Street, Reading, PA
- Market: Reading, PA
The buyer in this transaction is Pennside Zeke 717 LLC, while the seller is Pennside Realty LLC. The deal was facilitated by Luke DeLuca and Ken Wellar of Rittenhouse Realty Advisors.
Players
BROKERAGE
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$280,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,652.13
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,887.68
Annual Debt Service$298,652.14
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