Updated Sep 9, 2024
Monihan Realty Acquires Multifamily Property In Ocean City, NJ For $1.15M
1400 Wesley Avenue, Ocean City, NJ, USA
$1,150,000
$338/SF
Building Size
3,400 SF
Asset Type
MultiFamily
Closing
Apr 29, 2021
About this deal
AI
The multifamily property located at 1400 Wesley Avenue in Ocean City, NJ was recently sold on April 30, 2021. The property spans 3,400 square feet and was sold for a price of $1,150,000, resulting in a price per square foot of $338.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Market: Ocean City, NJ
- Address: 1400 Wesley Avenue
The sale transaction was facilitated by James (Gray) Haenn, Donna Brown, and Christopher Monihan from Monihan Realty. They represented the parties involved in the deal.
Players
Ocean 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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93