Weichert Realtors Acquires Multifamily Property In Ocean City, NJ For $1.15M
101 Atlantic Ave, Ocean City, NJ, USA
$1,150,000
$565/SF
Building Size
2,032 SF
Asset Type
MultiFamily
Closing
Jun 30, 2021
AI
The multifamily property located at 101 Atlantic Ave in Ocean City, NJ was recently sold for $1,150,000. The transaction took place on June 30, 2021 and involved a total of 2 units. The price per unit for this sale was $575,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Units: 2
- Price per Unit: $575,000
- Address: 101 Atlantic Ave, Ocean City, NJ
- Market: Ocean City, NJ
The buyer's representative in this deal was Susan Gardner from Weichert Realtors Asbury Group-Oc, while the seller's representative was Dorothy Phillips from Berkshire Hathaway HomeServices Fox & Roach Realtors.
Players
Ocean City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93