FINANCEDMultiFamily
Northmarq Brokers Arrange $6.7M Acquisition Loan For Multifamily Property In Petersburg, VA
2732 Park Avenue, Petersburg, Virginia 23805, United States
$6,700,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 8, 2022
AI
The property involved in this transaction is a multifamily asset located at 2701-2732 Park Avenue in Petersburg, VA. It consists of 95 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,700,000
- Address: 2701-2732 Park Avenue, Petersburg, VA
- Market: Petersburg, VA
- Units: 95
The acquisition loan for this property amounted to $6,700,000. The brokers involved in this deal were Hunter Wood, Keith Wells, and Reina Abboud from Northmarq.
Players
Petersburg MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.37%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93