Multifamily In Red Bank, NJ Sells For $2.3M With George Coffenberg - Preferred Properties Real Estate As The Broker
SOLD
$2,277,000
New Jersey
See Similar DealsMultiFamily10,000 SF
Sold 07/29/2020
SOLD
Multifamily In Red Bank, NJ Sells For $2.3M With George Coffenberg - Preferred Properties Real Estate As The Broker
127 Hudson Avenue, Middletown Township, NJ 07748, USA
See Similar DealsMultiFamily10,000 SF
Sold 07/29/2020
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$227
Total Square Footage:10,000 SF
Transaction Type:Sale
The multifamily property located at 127-131 Hudson Ave in Red Bank, NJ has been sold. The sale was facilitated by George Coffenberg of Preferred Properties Real Estate. The transaction took place on July 29, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Sale Price: $2,277,000
- Units: 12
- Price per Unit: $189,750
- Square Footage: 10,000
- Price per Square Foot: $228
- Address: 127-131 Hudson Ave, Red Bank, NJ
- Market: Red Bank, NJ
George Coffenberg of Preferred Properties Real Estate represented the parties involved in this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$121,440.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,089.70
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,794.14
Annual Debt Service$129,529.70
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