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Andrew Sanderson Of EXP Realty Represents Sale Of Jersey City Multifamily Property For $1.7M
SOLD
$1,700,000
New Jersey
See Similar DealsMultiFamily
Sold 09/24/2024
SOLD
Andrew Sanderson Of EXP Realty Represents Sale Of Jersey City Multifamily Property For $1.7M
126 Ogden Avenue
See Similar DealsMultiFamily
Sold 09/24/2024
Summary
NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale
The multifamily property at 126 Ogden Avenue in Jersey City is a well-maintained legal 2-family home featuring two 3-bedroom units, a 2-bedroom bonus unit, a 2-car garage, and central AC. The property was sold for $1,700,000, translating to a price per unit of $850,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,700,000
- Units: 2
- Price Per Unit: $850,000
- Address: 126 Ogden Avenue
- Market: Jersey City
Andrew Sanderson of EXP Realty represented the sale of the property. The deal showcases his expertise in the multifamily market and reflects the current demand for real estate in Jersey City.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$90,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$6,039.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,058.87
Annual Debt Service$96,706.41
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