Nuray Yurt Acquires Multifamily Property In Montclair, NJ With $937,500 Loan From Connect One Bank
115 Maple Avenue, Montclair, New Jersey 07042, United States
$937,500
$205/SF
Building Size
4,560 SF
Asset Type
MultiFamily
Closing
Apr 6, 2022
AI
The multifamily property located at 115 Maple Avenue in Montclair, NJ has been involved in a recent transaction. This property spans approximately 4,560 square feet and consists of 6 units. The transaction took place on 04/07/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $937,500
- Address: 115 Maple Avenue
- Market: Montclair, NJ
- Square Footage: 4,560
- Number of Units: 6
Nuray Yurt is the landlord of this property. The loan for the acquisition was provided by Connect One Bank. The loan amount is $937,500. The broker representing the transaction is Gabby Cali from Progress Capital.
Players
Montclair MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
16.92%
Cash-on-Cash
-4.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93