DeSatnick Real Estate LLC Sells Multifamily Property In Cape May For $1.15M
SOLD
$1,150,000
New Jersey
See Similar DealsMultiFamily2,800 SF
Sold
SOLD
DeSatnick Real Estate LLC Sells Multifamily Property In Cape May For $1.15M
1215 Lafayette Street, North Cape May, New Jersey 08204, United States
See Similar DealsMultiFamily2,800 SF
Sold
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$410
Total Square Footage:2800 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$61,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,085.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,451.59
Annual Debt Service$65,419.04
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