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Anne-Marie Pelletier Of Singleton Galmann Realty Represents Buyer In $1.26M Jersey City Multifamily Sale

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SOLD
$1,260,000

New Jersey

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MultiFamily
Sold 11/07/2024
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Property Image
SOLD

Anne-Marie Pelletier Of Singleton Galmann Realty Represents Buyer In $1.26M Jersey City Multifamily Sale

13 Cambridge Avenue

See Similar Deals
MultiFamily
Sold 11/07/2024
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Summary

NEW JERSEY
Asset Type:MultiFamily
Transaction Type:Sale

A four-family property located at 13 Cambridge Avenue in Jersey City Heights has been sold for a total of $1,260,000. The asset, currently operating as a three-family unit, includes two large 1-bedroom, 1-bathroom units, a 2-bedroom, 1-bathroom unit, and a garden-level unit with backyard access. The property features modern finishes and updated utilities across its four units, each providing the potential for increased income through its current configuration.

Summary of transaction details:

The transaction was facilitated by Anne-Marie Pelletier representing the buyer, while the seller was represented by Amar Mody and Basilio Rivera. This deal reflects the collaborative efforts of the involved real estate agencies in showcasing the property’s potential to interested buyers.

Players

Anne-Marie Pelletier
6 deals$10.2M volume
BROKER

Amar Mody
Sotheby's International Realty
7 deals$27M volume
BROKER

Basilio Rivera
Sotheby's International Realty
6 deals$26.1M volume(201) 240-8048
BROKER

Details

SOLD
IMAGE: Anne-Marie Pelletier, Amar Mody & Basilio Rivera DATE: 11/07/2024 ADDRESS: 13 Cambridge Avenue MARKET: Jersey City ASSET TYPE: MultiFamily BUYER'S REP: Anne-Marie Pelletier - Singleton Galmann Realty SELLER'S REP: Amar Mody (@TheModyTeam) & Basilio Rivera (@Basiliochilltown/) - Prominent Properties Sotheby's International Realty (@PromPropSIR) SALE PRICE: $1,260,000 UNITS: 4 ~ PPU: $315,000 NOTE: A four-family property in Jersey City Heights sold for $1.26 million, currently operating as a three-family unit with potential for increased income. The building features two large 1-bed, 1-bath units, a 2-bed, 1-bath unit, and a garden-level unit with backyard access, all with modern finishes and updated utilities.

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

$67,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,476.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,973.04
Annual Debt Service$71,676.51