Berkshire Hathaway HomeServices Fox & Roach REALTORS Acquires Ocean City Multifamily For $2.93M
1150-52 Ocean Avenue, Ocean City, NJ, USA
$2,936,250
$686/SF
Building Size
4,275 SF
Asset Type
MultiFamily
Closing
Apr 8, 2021
AI
A multifamily property located at 1150-52 Ocean Ave in Ocean City has been sold for $2,936,250. The property consists of 2 units, resulting in a per unit price of $1,468,125. The sale was facilitated by Dorothy Phillips of Berkshire Hathaway HomeServices Fox & Roach REALTORS®.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,936,250
- Address: 1150-52 Ocean Ave
- Market: Ocean City
- Units: 2
- Price per Unit: $1,468,125
Dorothy Phillips from Berkshire Hathaway HomeServices Fox & Roach REALTORS® played a pivotal role as the broker in this transaction.
Ocean City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.40%
Cash-on-Cash
-1.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93