Updated Dec 4, 2024
Josh Starner & William McClellan Of Sackman Realty Sell Long Branch Multifamily For $1.18M
117 Third Avenue
$1,180,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 18, 2024
About this deal
AI
117 Third Avenue, a spacious 3-family house in Long Branch, sold for $1,180,000. This property features ample off-street parking, a spacious lot, and three separate apartments with separate utilities, making it a versatile investment with potential for growth and multiple income streams.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,180,000
- Address: 117 3rd Avenue
- Market: Long Branch
- Brokers: Josh Starner & William McClellan - Sackman Realty
Josh Starner and William McClellan from Sackman Realty facilitated the sale of 117 Third Avenue, a property located near beaches and a train station. The strategic location of the property offers convenience and potential for attracting tenants seeking a desirable living environment.
Players
Long Branch 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
13.44%
Cash-on-Cash
-3.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93