Updated Oct 29, 2024
West Hoboken Residential Represents Linda Gar In $950,000 Sale Of Multifamily Property On Summit Avenue, Jersey City
1148 Summit Ave Jersey City, NJ 07307, USA
$950,000
$211/SF
Building Size
4,500 SF
Asset Type
MultiFamily
Closing
May 17, 2023
About this deal
AI
The multifamily property located at 1148 Summit Avenue in Jersey City has been sold. The property consists of 6 units with a total area of approximately 4,500 square feet. The sale price for this transaction was $950,000, resulting in a price per unit of $158,333 and a price per square foot of $211.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $950,000
- Address: 1148 Summit Avenue
- Market: Jersey City
- Units: 6
- Price per Unit: $158,333
- Total Area: 4,500 square feet
- Price per Square Foot: $211
The seller of the property was Linda Gar. The transaction was facilitated by Ronald Roman and Denisse Rivera from West Hoboken Residential, who acted as brokers representing the parties involved in the deal.
Players
New Jersey 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
16.70%
Cash-on-Cash
-4.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93