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The Van Dyk Group Acquires Multifamily Property In Long Beach Township, NJ For $2.72M

Property Image
SOLD
$2,720,000
Holly Muia
DM

New Jersey

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MultiFamily2,608 SF
Sold 05/16/2021
the dealplayerscompscontact
Property Image
SOLD

The Van Dyk Group Acquires Multifamily Property In Long Beach Township, NJ For $2.72M

1113A Long Beach Boulevard, Long Beach, NJ, USA

See Similar Deals
MultiFamily2,608 SF
Sold 05/16/2021
Holly Muia
DM
the dealplayerscompscontact
Contact now

Summary

NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$1,042
Total Square Footage:2,608 SF
Transaction Type:Sale

A multifamily property located at 1113-A Long Bch in Long Beach Township, NJ, was recently sold for a total price of $2,720,000. The property spans 2,608 square feet, resulting in a price per square foot of $1,043. This transaction involved the sale of two units, with each unit having a price per unit of $1,360,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,720,000
  • Address: 1113-A Long Bch, Long Beach Township, NJ
  • Market: Long Beach Township, NJ
  • Square Footage: 2,608
  • Price per Square Foot: $1,043
  • Units: 2
  • Price per Unit: $1,360,000

The buyer was represented by Holly Muia from The Van Dyk Group, while the seller was represented by David Martin and Robert Keeler from Jersea Realty, LLC.

Players

Holly Muia
The Van Dyk Group
Holly Muia
3 deals$5.4M volume
BROKER
DM
Jersea Realty
David Martin
1 deal$2.7M volume
BROKER

Details

SOLD
IMAGE: Holly Muia & Robert Keeler DATE: 05/17/2021 ADDRESS: 1113-A Long Bch MARKET: Long Beach Township, NJ ASSET TYPE: Multifamily BUYER'S REP: Holly Muia - The Van Dyk Group SELLER'S REP: David Martin & Robert Keeler - Jersea Realty, LLC SALE PRICE: $2,720,000 SF: 2,608 ~ PPSF: $1,043 UNITS: 2 ~ PPU: $1,360,000

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

$145,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,663.58
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,894.19
Annual Debt Service$154,730.25