The Van Dyk Group Acquires Multifamily Property In Long Beach Township For $1.25M
SOLD
$1,250,000
New Jersey
See Similar DealsMultiFamily1,704 SF
Sold 03/05/2021
SOLD
The Van Dyk Group Acquires Multifamily Property In Long Beach Township For $1.25M
1214 N Atlantic Ave, Long Beach Township, NJ, USA
See Similar DealsMultiFamily1,704 SF
Sold 03/05/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$733
Total Square Footage:1,704 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$66,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,440.98
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,925.64
Annual Debt Service$71,107.65
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