Nicholas Giuffre & Travis Marshall Facilitate $2,225,000 Land Sale In Avalon
173 38th Street
$2,225,000
Building Size
—
Asset Type
Land
Closing
Apr 2, 2024
AI
The vacant land property at 173 38th Street in Avalon was sold for $2,225,000. The property is located only a block away from the Avalon History Museum and the 39th Street Avalon recreation area. It offers a prime location close to the beach and features a 40 x 110 lot suitable for building a 3000+ square foot home. The property comes with an approved site plan ready for design and implementation.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,225,000
- Address: 173 38th Street
- Market: Avalon
Nicholas Giuffre from Compass represented the buyer in the transaction, while Travis Marshall from Long & Foster Real Estate served as the seller's representative. Both brokers played essential roles in facilitating the sale of the property in Avalon, ensuring a successful transaction for both parties involved.
Players
Avalon Land Market Snapshot
Boundary boundary · Land · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.13%
Cash-on-Cash
-2.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93