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Belmar Multifamily Sells For $1.5M With Buyer's Rep Kristine Lindung & Seller's Rep Paulette Young

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SOLD
$1,500,000

New Jersey

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MultiFamily2,466 SF
Sold 10/18/2023
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Property Image
SOLD

Belmar Multifamily Sells For $1.5M With Buyer's Rep Kristine Lindung & Seller's Rep Paulette Young

111 Seventh Ave

See Similar Deals
MultiFamily2,466 SF
Sold 10/18/2023
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Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$608
Total Square Footage:2,466 SF
Transaction Type:Sale

A multifamily property located at 111 7th Avenue in Belmar has been sold for $1,500,000. This transaction was represented by Kristine Lindung of Ward Wight Sotheby's International Realty, who acted as the buyer's agent, and Paulette Young of Century 21, who represented the seller. The property spans a total of 2,466 square feet and was sold at a price per square foot of $608.

Summary of transaction details

This successful transaction was facilitated by Kristine Lindung of Ward Wight Sotheby's International Realty acting as the buyer's representative and Paulette Young of Century 21 representing the seller. Their expertise and negotiation skills played a crucial role in closing the deal for this multifamily property in Belmar.

Players

Paulette Young
1 deal$1.5M volume(732) 539-3690
BROKER

Kristine Lindung
Sotheby's International Realty
2 deals$3.2M volume(732) 259-7887
BROKER

Details

SOLD
IMAGE: Kristine Lindung & Paulette Young DATE: 10/18/2023 ADDRESS: 111 7th Avenue MARKET: Belmar ASSET TYPE: Multifamily BUYER'S REP: Kristine Lindung (@Ktaik) - Ward Wight Sotheby's International Realty (@WardWightSIR) SELLER'S REP: Paulette Young - Century 21 (@Century21) SALE PRICE: $1,500,000 SF: 2,466 ~ PPSF: $608 NOTE: A multifamily property at 111 Seventh Ave in Belmar was sold for $1,500,000, with Kristine Lindung of Ward Wight Sotheby's International Realty representing the buyer and Paulette Young of Century 21 representing the seller. The property spans 2,466 square feet at a price per square foot of $608.

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

$79,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18