Schlosser Real Estate, Inc Sells Lavallette Multifamily Property For $1.5M
SOLD
$1,499,900
New Jersey
See Similar DealsMultiFamily
Sold 06/01/2022
SOLD
Schlosser Real Estate, Inc Sells Lavallette Multifamily Property For $1.5M
106 Kerr Avenue, Lavallette, New Jersey 08735, United States
See Similar DealsMultiFamily
Sold 06/01/2022
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
Located in Lavallette, the multifamily property at 106 Kerr Ave recently changed hands in a closed sale transaction. The deal was finalized on June 1, 2022, with a sale price of $1,499,900. The property, represented by Matthew Schlosser & Andrea Schlosser of Schlosser Real Estate, Inc, attracted the attention of a buyer represented by Jeffrey Cruz from Weichert Realtors.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,499,900
- Address: 106 Kerr Ave
- Market: Lavallette
Jeffrey Cruz, from Weichert Realtors, played a vital role as the buyer's representative in this deal. On the other side, Matthew Schlosser & Andrea Schlosser, representing Schlosser Real Estate, Inc, acted as the seller's representatives throughout the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,994.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,328.84
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.29
Annual Debt Service$85,323.49
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