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Young Lee & Min Hyoung Cho Close $2.4M Multifamily Deal In Ridgefield

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SOLD
$2,425,000

New Jersey

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MultiFamily
Sold 04/29/2024
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Property Image
SOLD

Young Lee & Min Hyoung Cho Close $2.4M Multifamily Deal In Ridgefield

1025 Hoyt Avenue & 27 Hoyt Avenue

See Similar Deals
MultiFamily
Sold 04/29/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

1025-27 Hoyt Avenue, a multifamily property in Ridgefield, was sold for $2,425,000. The transaction involved two separate buildings that were sold as a package deal, totaling 12 units with amenities like garages and parking spaces. The property is conveniently located near major highways.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,425,000
  • Address: 1025-27 Hoyt Avenue
  • Market: Ridgefield
  • Units: 12
  • Price Per Unit: $202,083

Young Lee of Session Real Estate represented the buyer, and Min Hyoung Cho of 2Win Realty represented the seller in the transaction of 1025-27 Hoyt Avenue. The deal was successfully facilitated through their expertise in the real estate market.

Players

Min Hyoung Cho
1 deal$2.4M volume(201) 674-1115
BROKER

Young Lee
1 deal$2.4M volume(201) 602-0435
BROKER

Details

SOLD
IMAGE: Young Lee & Min Hyoung Cho DATE: 04/29/2024 ADDRESS: 1025-27 Hoyt Avenue MARKET: Ridgefield ASSET TYPE: Multifamily BUYER'S REP: Young Lee - Session Real Estate SELLER'S REP: Min Hyoung Cho - 2Win Realty SALE PRICE: $2,425,000 UNITS: 12 ~ PPU: $202,083 NOTE: 1025-27 Hoyt Avenue, a multifamily property in Ridgefield, was sold for $2,425,000. The transaction was facilitated by Young Lee of Session Real Estate representing the buyer and Min Hyoung Cho of 2Win Realty representing the seller. This sale involved two separate buildings that were sold as a package deal, totaling 12 units with amenities like garages and parking spaces, conveniently located near major highways.

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

$129,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,615.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,495.74
Annual Debt Service$137,948.85