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.
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