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1214 N Atlantic Ave, Long B...

The Van Dyk Group Acquires Multifamily Property In Long Beach Township For $1.25M
SOLDMultiFamily

The Van Dyk Group Acquires Multifamily Property In Long Beach Township For $1.25M

1214 N Atlantic Ave, Long Beach Township, NJ, USA

$1,250,000

$733/SF

Building Size

1,704 SF

Asset Type

MultiFamily

Closing

Mar 4, 2021

AI

Two multifamily units located at 1214 N Atlantic Ave in Long Beach Township were sold in a recent transaction. The property, spanning 1,704 square feet and priced at $1,250,000, was purchased by an undisclosed buyer. The sale price equates to a price per square foot of $734. Each unit was sold for $625,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,250,000
  • Market: Long Beach Township

The buyer was represented by Nathaniel Colmer from The Van Dyk Group - Long Beach Island, while David Cowles from BHHS Zack Shore Realtors acted as the seller's representative in the deal.

Players

David Cowles

Berkshire Hathaway HomeServices

Broker

$1.3M

vol

1 deal

Broker

Beach Haven 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

12.69%

Cash-on-Cash

-3.63%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93