J. Biernacki Acquires Multifamily Property In Jersey City From Vienna & Mark Timmins For $1.65M
SOLD
$1,650,000
New Jersey
See Similar DealsMultiFamily2,800 SF
Sold 11/12/2021
SOLD
J. Biernacki Acquires Multifamily Property In Jersey City From Vienna & Mark Timmins For $1.65M
138 Erie Street, Jersey City, NJ 07302
See Similar DealsMultiFamily2,800 SF
Sold 11/12/2021
Summary
NEW JERSEY
Asset Type:MultiFamily
Price Per Square Foot:$589
Total Square Footage:2,800 SF
Transaction Type:Sale
138 Erie St, a multifamily property located in Jersey City, was recently sold in a closed transaction. The sale was facilitated by Marge Crimmins from Century 21 Preferred Realty. The property features 2 units spread over 2,800 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,650,000
- Address: 138 Erie St, Jersey City
- Market: Jersey City
J. Biernacki acquired the property from Vienna & Mark Timmins, the sellers. The asking price for the property was $1,700,000. With a price per unit (PPU) of $825,000, the sale price per square foot (PPSF) was recorded at $589.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$88,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10
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