Updated Dec 21, 2023
The Kislak Co. Inc Sells Vineland, Cherry Hill & East Orange Multifamily Portfolio For $9.03M
1047 East Park Avenue, Vineland, NJ, USA
$9,025,000
Units
88
Asset Type
MultiFamily
Closing
Aug 4, 2021
About this deal
AI
A multifamily property located at 1045-1047 East Park Ave., 1205 Farrell Ave, and 17 Lenox Ave in Vineland, Cherry Hill, and East Orange, NJ, has been sold for a total of $9,025,000. The transaction took place on August 5, 2021. The property consists of 88 units, resulting in a per unit price of $102,557.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,025,000
- Units: 88
- Price Per Unit: $102,557
The sale was facilitated by Joni Sweetwood from The Kislak Co. Inc, who represented the parties involved in the deal.
Players
Vineland 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93