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Andrea DiPilato & Judith Collan Facilitate $2M Sale Of Long Branch Multifamily

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SOLD
$2,000,000

New Jersey

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MultiFamily
Sold 05/01/2024
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Property Image
SOLD

Andrea DiPilato & Judith Collan Facilitate $2M Sale Of Long Branch Multifamily

127 Chelsea Avenue

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MultiFamily
Sold 05/01/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 127 Chelsea Avenue in Long Branch was recently sold for $2,000,000. The property features a 5-bedroom Victorian home and a spacious duplex at the rear. Situated on 0.53 acres, this property presents various opportunities for personal use, rental income, family compound, or potential investments.

Summary of transaction details:

The transaction was facilitated by Andrea DiPilato of Preferred Properties Real Estate as the buyer's representative and Judith Collan of Keller Williams Realty served as the seller's representative, ensuring a successful sale of this versatile property.

Players

Judith (Judy) Collan
1 deal$2M volume(732) 221-7115
BROKER

Andrea DiPilato
Preferred Properties Real Estate
1 deal$2M volume(917) 538-3864
BROKER

Details

SOLD
IMAGE: Judith Collan DATE: 05/01/2024 ADDRESS: 127 Chelsea Avenue MARKET: Long Branch ASSET TYPE: Multifamily ~ ACRES: 0.53 BUYER'S REP: Andrea DiPilato - Preferred Properties Real Estate SELLER'S REP: Judith Collan - Keller Williams Realty (@KellerWilliamsRealty) SALE PRICE: $2,000,000 NOTE: In Long Branch's market, a multifamily property located at 127 Chelsea Avenue was sold for $2,000,000. The transaction was facilitated by Judith Collan of Keller Williams Realty as the seller's representative and Andrea DiPilato of Preferred Properties Real Estate as the buyer's representative. The property features a stunning 5-bedroom Victorian home on half an acre, along with a large updated duplex home at the rear of the property, offering possibilities for personal use, rental income, family compound, or various investment opportunities.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$106,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,105.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,481.02
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