Anne-Marie Pelletier Of Singleton Galmann Realty Represents Buyer In $1.26M Jersey City Multifamily Sale
13 Cambridge Avenue
$1,260,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 7, 2024
AI
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:
- Property Type: MultiFamily
- Transaction Amount: $1,260,000
- Units: 4
- Price Per Unit: $315,000
- Buyer’s Representative: Anne-Marie Pelletier - Singleton Galmann Realty
- Seller’s Representatives: Amar Mody & Basilio Rivera - Prominent Properties Sotheby's International Realty
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
Jersey City MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.59%
Cash-on-Cash
-3.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93