Updated Dec 21, 2023
DeSatnick Real Estate LLC Sells Multifamily Property In Cape May For $1.15M
1215 Lafayette Street, North Cape May, New Jersey 08204, United States
$1,150,000
$410/SF
Building Size
2,800 SF
Asset Type
MultiFamily
Closing
May 26, 2022
About this deal
AI
deSatnick Real Estate LLC represented the parties involved in the sale of a multifamily property located at 1215 Lafayette St in Cape May. The transaction took place on May 27, 2022, with Kathleen Satt, Stacy Hutchinson, and Colleen White acting as the brokers for this deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Address: 1215 Lafayette St, Cape May
- Market: Cape May
The multifamily property consists of 2 units, resulting in a per unit price of $575,000. The sale marks a successful transaction in the Cape May real estate market.
On the Map
$1,150,000
$410/SF
MultiFamily
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Cape May 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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93