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117 Third Avenue

Updated Dec 4, 2024

Josh Starner & William McClellan Of Sackman Realty Sell Long Branch Multifamily For $1.18M
SOLDMultiFamily

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:

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

Josh Starner

Sackman Realty

Broker

$1.2M

vol

1 deal

Broker

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

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