Monihan Realty Acquires Ocean City Condo On Wesley Ave For $4.9M
SOLD
$4,900,000
New Jersey
See Similar Deals2,400 SF
Sold 04/08/2022
SOLD
Monihan Realty Acquires Ocean City Condo On Wesley Ave For $4.9M
2639 Wesley Avenue, Ocean City, New Jersey 08226, United States
See Similar Deals2,400 SF
Sold 04/08/2022
Summary
NEW JERSEY
Price Per Square Foot:$2,041
Total Square Footage:2,400 SF
Transaction Type:Sale
A condominium unit located at 2639 Wesley Ave in Ocean City has been sold for a price of $4,900,000. The property is a spacious 2,400 square feet in size, with a price-per-square-foot of $2,042. The sale was facilitated by Christopher Monihan of Monihan Realty Inc.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $4,900,000
- Address: 2639 Wesley Ave
- Market: Ocean City
- Square Footage: 2,400 sqft
- Price per Square Foot: $2,042
Christopher Monihan of Monihan Realty Inc. played a key role as the broker in this transaction. With their expertise, the sale of the condo was successfully completed.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$261,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$17,408.68
Cash-on-Cash Return-1.27%
Monthly Debt Service$23,228.50
Annual Debt Service$278,742.00
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