Kamson Corp. Sells Morristown Multifamily For $8.55M With Kislak Co. Inc. As Brokers
SOLD
$8,550,000
+ 1
New Jersey
See Similar DealsMultiFamily40,364 SF
Sold 01/07/2021
SOLD
Kamson Corp. Sells Morristown Multifamily For $8.55M With Kislak Co. Inc. As Brokers
12 Ridgedale Avenue, Morristown, NJ, USA
See Similar DealsMultiFamily40,364 SF
Sold 01/07/2021
+ 1
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$211
Total Square Footage:40,364 SF
Transaction Type:Sale
Kamson Corp. has sold a multifamily property located at 12 Ridgedale Avenue in Morristown. The property, consisting of 23 units, was sold for a price of $8,550,000, with a per unit price of $371,739. The transaction was facilitated by Jason Pucci, Justin Lupo, Joseph Keenan, & Robert Holland of Kislak Co. Inc.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,550,000
- Address: 12 Ridgedale Avenue
- Market: Morristown
- Units: 23
- Price Per Unit: $371,739
The sale of the property was handled by Jason Pucci, Justin Lupo, Joseph Keenan, & Robert Holland, representing Kislak Co. Inc. This transaction took place on January 7, 2021.
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SELLER
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$456,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$30,376.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$40,531.36
Annual Debt Service$486,376.34
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