Weichert Realtors Acquires Multifamily Property In Jersey City For $1.425M With Buyer's Rep Ryan Lowney & Seller's Rep Edward Verdel
SOLD
$1,425,000
New Jersey
See Similar DealsMultiFamily2,100 SF
Sold 02/19/2021
SOLD
Weichert Realtors Acquires Multifamily Property In Jersey City For $1.425M With Buyer's Rep Ryan Lowney & Seller's Rep Edward Verdel
13 Magnolia Ave, Jersey City, NJ, USA
See Similar DealsMultiFamily2,100 SF
Sold 02/19/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$678
Total Square Footage:2,100 SF
Transaction Type:Sale
An image posted on Instagram by Ryan Lowney & Edward Verdel showcased a recent sale in Jersey City. The transaction took place on February 19, 2021, at the property located at 13 Magnolia Ave. This property falls under the multifamily asset type category.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,425,000
- Market: Jersey City
- Buyer's Representative: Ryan Lowney - Weichert Realtors
- Seller's Representative: Edward Verdel - Compass New Jersey, LLC
The buyer's representative for this deal was Ryan Lowney from Weichert Realtors, while the seller was represented by Edward Verdel from Compass New Jersey, LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,062.72
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,755.23
Annual Debt Service$81,062.72
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