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217 Angell Street, Providen...

Robert Damigella Secures $1.35M Loan For Multifamily Property On Angell Street In Providence, RI
FINANCEDMultiFamily

Robert Damigella Secures $1.35M Loan For Multifamily Property On Angell Street In Providence, RI

217 Angell Street, Providence, RI 02906

$1,350,000

$193/SF

Building Size

6,978 SF

Asset Type

MultiFamily

Closing

Mar 31, 2021

AI

The multifamily property located at 217 Angell Street in Providence, RI has recently undergone a closed transaction. The property consists of 9 units and has been the subject of a loan. No additional information is available regarding the property's characteristics or market value.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,350,000
  • Loan Amount: $1,350,000
  • Loan Terms: 14-year loan, features a fixed interest rate of 3.6% for 7 years and a 30-year amortization schedule
  • Broker: Robert Damigella - Marcus & Millichap Capital Corporation

The loan for this transaction amounts to $1,350,000 and features a fixed interest rate of 3.6% for the first 7 years. The loan has a 14-year term and follows a 30-year amortization schedule. Robert Damigella, representing Marcus & Millichap Capital Corporation, acted as the broker for this deal.

Players

Robert Damigella

Marcus & Millichap

Broker

$103.3M

vol

13 deals

Broker

Providence MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.75%

Cash-on-Cash

-3.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93