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1002 N Beach Ave, Beach Hav...

G. Anderson Agency Acquires Multifamily Property In Beach Haven For $1.125M With Jennifer Hornik As Buyer's Rep And Michael Cowles As Seller's Rep
SOLDMultiFamily

G. Anderson Agency Acquires Multifamily Property In Beach Haven For $1.125M With Jennifer Hornik As Buyer's Rep And Michael Cowles As Seller's Rep

1002 N Beach Ave, Beach Haven, NJ, USA

$1,125,000

$616/SF

Building Size

1,824 SF

Asset Type

MultiFamily

Closing

Feb 25, 2021

AI

Located at 1002 N Beach Ave in Beach Haven, this multifamily property was recently sold on February 26, 2021. The property consists of 2 units and spans a total of 1,824 square feet. The sale price for this transaction was $1,125,000, resulting in a price per square foot of $617. The buyer's representative for this deal was Jennifer Hornik from G. Anderson Agency, while the seller's representative was Michael Cowles from BHHS Zack Shore Realtors.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $1,125,000
  • Address: 1002 N Beach Ave
  • Market: Beach Haven
  • Square Footage: 1,824
  • Buyer's Representative: Jennifer Hornik - G. Anderson Agency
  • Seller's Representative: Michael Cowles - BHHS Zack Shore Realtors

Michael Cowles from BHHS Zack Shore Realtors represented the seller in this transaction, while Jennifer Hornik from G. Anderson Agency represented the buyer. The property, with its 2 units and a selling price of $1,125,000, provided an attractive investment opportunity in the Beach Haven market. Both parties involved in the deal played a crucial role in successfully closing this multifamily property transaction.

Players

Michael Cowles

Berkshire Hathaway HomeServices

Broker

$1.1M

vol

1 deal

Broker

Beach Haven MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.10%

Cash-on-Cash

-4.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93