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Hamed Kazerani Brokers Mixed-Use Sale In Hasbrouck Heights For $1.9M

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SOLD
$1,900,000

New Jersey

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Mixed-use
Sold 05/03/2024
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SOLD

Hamed Kazerani Brokers Mixed-Use Sale In Hasbrouck Heights For $1.9M

280 Terrace Avenue & 286 Terrace Avenue

See Similar Deals
Mixed-use
Sold 05/03/2024
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Summary

NEW JERSEY
Asset Type:Mixed-use
Transaction Type:Sale

280-286 Terrace Avenue, a mixed-use property in Hasbrouck Heights, was sold for $1,900,000. The property consists of 6 residential units, 2 retail spaces, and 8 parking spaces, generating approximately $140,000 in net income. All residential units are 2 bedrooms each, and the property is conveniently located near Route 17 and Interstate 80, offering easy access to New York.

Summary of transation details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,900,000
  • Units: 8
  • Price Per Unit: $237,500
  • Address: 280-286 Terrace Avenue
  • Market: Hasbrouck Heights
  • Broker: Hamed Kazerani - Real Broker

The transaction of 280-286 Terrace Avenue was facilitated by Hamed Kazerani from Real Broker. The property includes a mix of residential and commercial spaces, offering a diverse investment opportunity in the bustling market of Hasbrouck Heights.

Players

BROKERAGE

Details

SOLD
IMAGE: Hamed Kazerani DATE: 05/03/2024 ADDRESS: 280-286 Terrace Avenue MARKET: Hasbrouck Heights ASSET TYPE: Mixed-use BROKER: Hamed Kazerani - Real Broker (@RealBrokerage) SALE PRICE: $1,900,000 UNITS: 8 ~ PPU: $237,500 NOTE: 280-286 Terrace Avenue, a mixed-use property in Hasbrouck Heights, was sold for $1,900,000. The transaction was brokered by Hamed Kazerani of Real Broker and involved two adjacent properties featuring 6 residential units, 2 retail spaces, and 8 parking spaces. The property generates approximately $140,000 in net income with all residential units consisting of 2 bedrooms, and it is conveniently located near Route 17 and Interstate 80, providing easy access to New York.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$101,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63