Updated Oct 13, 2026
Burton Wilkins & Peter Madden Sell Ocean City Multifamily Property For $1.42M
12 Garfield Place & 14 Garfield Place
$1,425,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 1, 2024
About this deal
AI
The multifamily property at 12-14 Garfield Place in Ocean City was sold for $1,425,000. This transaction was facilitated by Burton Wilkins and Peter Madden of Goldcoast Sotheby's International Realty.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,425,000
- Address: 12-14 Garfield Place
- Market: Ocean City
- Brokers: Burton Wilkins & Peter Madden - Goldcoast Sotheby's International Realty
Peter Madden and Burton Wilkins, representing Goldcoast Sotheby's International Realty, were instrumental in the successful sale of the multifamily property. Their expertise and efforts led to the completion of the transaction at 12-14 Garfield Place in Ocean City.
On the Map
$1,425,000
MultiFamily
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Ocean City 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
11.13%
Cash-on-Cash
-3.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93