Updated Dec 4, 2024
James Ward Of Keller Williams Brokers $2.3M Sale Of Multifamily In Point Pleasant Beach
1309 Ocean Front
$2,300,000
$599/SF
Building Size
3,840 SF
Asset Type
MultiFamily
Closing
May 16, 2024
About this deal
AI
1309 Ocean Front in Point Pleasant Beach encompasses four units with an average price per unit of $575,000. The property spans 3,840 square feet and was sold for $2.3 million, equating to $599 per square foot.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Units: 4
- Price per Unit: $575,000
- Square Footage: 3,840
- Price per Square Foot: $599
- Address: 1309 Ocean Front
- Market: Point Pleasant Beach
- Broker: James Ward - Keller Williams
The sale of 1309 Ocean Front was facilitated by James Ward from Keller Williams, orchestrating the transaction for the property located in Point Pleasant Beach.
Point Pleasant Beach 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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93