The property asset involved in the transaction is a multifamily property located at 1112 Lombard Street in Philadelphia, PA. The sale price for this asset was $2,845,000, and it consists of 13 units, with a price per unit of $218,846. The total square footage of the property is 18,000, resulting in a price per square foot of $158. The property is considered a value-add multifamily opportunity situated in the coveted Wash West submarket.
Summary of transaction details:
Property Type: Multifamily
Transaction Amount: $2,845,000
Units: 13
Price Per Unit: $218,846
Total Square Footage: 18,000
Price Per Square Foot: $158
Market: Philadelphia, PA
CAP Rate: 3.58%
Days on Market: 9
Deal Registrants: 63
Last Traded: 1972
Representation: Dual Agency
Brokerage Firm: Agent PHL
Brokers: Brandon Ribeiro & Ryan McManus
Please direct future sales enquiries to Ryan@AgentPHL.com and/or Brandon@AgentPHL.com. Visit our website at www.AgentPHL.com.
The key individuals facilitating the transaction are brokers Brandon Ribeiro and Ryan McManus from Agent PHL, who provided dual agency representation in this deal. Their involvement highlights their expertise in the Philadelphia market and their capacity to manage complex real estate transactions effectively.