West Hoboken Residential Represents Linda Gar In $950,000 Sale Of Multifamily Property On Summit Avenue, Jersey City
SOLD
$950,000
New Jersey
See Similar DealsMultiFamily4,500 SF
Sold 05/17/2023
SOLD
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
See Similar DealsMultiFamily4,500 SF
Sold 05/17/2023
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$211
Total Square Footage:4,500 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$50,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,375.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,503.48
Annual Debt Service$54,041.82
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